Conversational Artificial Intelligence (AI) startup Haptik on Thursday said the company is likely to see a lot of India-specific use cases with 5G.
In an exclusive interview with CNBC-TV18, Aakrit Vaish, co-founder and CEO of Haptik, said with 5G, there is going to be a significant impact in terms of the way consumers use the internet and the speed at which they use it.
Vaish said, "Areas such as AR, VR, and AI across video, like metaverse are going to become much more a reality now as you will have the bandwidth and the speed available to support it."
Recently, India officially announced the inauguration of 5G network services in the country earlier this week at the India Mobile Congress in New Delhi. 5G promises to offer lower latency, higher capacity and increased bandwidth as compared to previous generations of wireless technologies. It will also provide businesses with greater flexibility, hopefully, reduce costs, and enable applications that aren't possible today.
In fact, 5G will be the foundation of a smart, connected world in which artificial intelligence, the internet of things, and extended reality can be leveraged to their full potential.
India's telecom companies are betting big on the transformative power of 5G and are already going live with 5G services across urban India. Airtel today said it's live in 8 cities. While Jio is testing in Mumbai, Delhi, Kolkata, and Varanasi with plans to go full throttle in 2023. 200 Indian cities will have access to the technology in the next 6 months.
As per a report from GSMA, Indian telecom giants are expected to invest around $19.5 billion in the development of advanced infrastructure for 5G by 2025. The report added that 5G could benefit the Indian economy by $445 billion between 2023 and 2040 or more than 0.6 percent of the GDP forecast for the year 2040.
This is hardly surprising given that the transition to 5G has the potential to transform lives, bridge the digital divide and enable newer avenues of socio-economic growth.
The opportunities are immense and startups are leading the charge by building applications that can unlock new use cases and revenue streams through innovative business models. From smart manufacturing to immersive content like AR, VR, cloud gaming to smart healthcare, virtual education, and even autonomous vehicles.
In this episode of, Young Turks, CNBC-TV18's Shereen Bhan spoke to Aakrit Vaish, co-founder & CEO of Haptik; Rajesh Mishra, founder & CEO of A5G Networks; Gaurav Gandhi, founder & CEO of Echelon Edge and Anant Sharma, co-founder & CEO at Tweek Labs to discuss how startups can leverage 5G and how 5G can propel India into the next phase of growth.
Watch the video for more.
Disclaimer: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.