5G to drive economic growth, job creation in PH

Trade & Travel Journal | 5G to drive economic growth, job creation in PH | Globe continues to expand the availability of its 5G technology nationwide as it expects the next generation of wireless internet connectivity to boost Philippine economic growth and recovery, as well as the country’s transition towards ‘Industry 4.0’.

With its faster speeds, lower latency, higher bandwidth and more reliable internet connectivity, 5G is a must-have platform for the shift to Industry 4.0 or the ‘4th Industrial Revolution’ (4IR). This refers mainly to the availability of new technologies that modernize the way businesses operate and distribute their products. These technologies include the Internet of Things (IoT), artificial intelligence (AI), cloud computing and many others.

“We are at a critical stage in the Philippines’ economic development, given the new administration’s digitalization goals, the ongoing recovery amid the pandemic, and the speed on which technologies and digital lifestyles are evolving,” said Globe President and CEO Ernest Cu.

“Today we are ranked competitively with other countries thanks to newer technologies plus heavy investments to improve our network performance.  There are still growth opportunities for the country, especially using 5G technology to be at pace with the rest of the world. Globe intends to continue making this technology accessible to many in support of the country’s digital transformation,” he said.

A report by the Asian Development Bank (ADB) entitled Reaping the Benefits of Industry 4.0 Through Skills Development confirmed that “the adoption of Industry 4.0 technologies can not only result in large potential returns to businesses but also create more jobs.” It determined further that businesses which are skilled in these technologies are likely to recover faster from the pandemic and become more resilient.[1]

The study also estimated that “4IR technologies could result in net job increases of 11% for information technology-based business process outsourcing (IT-BPO).”[2]

Cu earlier expressed Globe’s support for the new administration’s plan to increase digitalization in government to streamline processes and make public service delivery more efficient. The company’s continued investments in its network infrastructure will help fulfill these shared goals.

The expansion and use of new technologies is aligned with Globe’s commitment to the United Nations Sustainable Development Goal No. 9, which highlights the roles of infrastructure and innovation in driving economic growth and development.

In the first quarter of the year, Globe upgraded over 3,500 mobile sites to 4G/LTE and installed 380 new 5G sites, leading to an increase in ultra fast 5G mobile connectivity in more areas nationwide.

As of end-March 2022, Globe logged over 2 million devices in its 5G network, which now reaches 96% of the National Capital Region and 85% of key cities in Visayas and Mindanao in terms of 5G outdoor coverage.

To know more about Globe, visit www.globe.com.ph.