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The Innovation Room
• Mar 9, 2022

Welcome to the Innovation Room, our regular series aimed at tapping into the expertise we have at TD Bank to better inform, innovate and inspire both our customers and colleagues.

What is 5G? Aside from a faster and more powerful data source for your cell phone, what does this next phase in mobile evolution mean?

Is it just 25% better than 4G or is it a mobile upgrade that could potentially change the world?

That's the question we asked John Thomas, TD's Global Head of Innovation, heading into the second quarter of 2022.

John sees it as a much bigger shift than just 4G or LTE to 5G.

"I expect we'll see big changes in health care with 5G and healthcare in the home," John said.

John explained that we've seen this early on with COVID-19, as many health care specialists have taken to video visits instead of meeting patients in person.

And now that doctors and nurses have been doing this for some time with some varied success, a strong network could create even more opportunities to help people around the globe.

Shopping, Commuting and Communication

Up until the pandemic and 5G, along with other technological advances, many small businesses have been limited to where they can operate from.

They've also been limited in who they can hire, given employees had to live locally in most cases.

Now that there is a more hybrid model in place for employees and even online shopping, competition should open up on that front. So will jobs.

"I think the concept of what we do in-home and out of home will probably evolve under 5G," John added. "With that level of bandwidth in and out of our homes, the communication possibilities globally or even next door are very different that they are today."

As bandwidth and power evolves, so will what certain archaic terms mean.

Virtual Reality and Augmented Reality could mean something very different five years ago than what they mean today and in the near future.

"I don't know what virtual is going to mean under 5G," John said. "It may feel less virtual but we'll see."

Want to learn more about The Innovation Room?
The Innovation Room: What is the Innovation Room and Why Should You Care?

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