Needless to say, the generation gap is widening quicker than we expected, and it applies to technology as well. From 1G to 5G, we have come a long way in terms of network speed, connection density, latency, energy efficiency, and more. Although 5G promises increased speed, it needs to be complemented by edge computing to bring computation closer to the data source.
As a result, 5G and edge computing are expected to significantly impact capital market firms. These firms make billions of dollars-worth of decisions almost every second based on the information available at the time of decision-making. As a result, the availability of real-time data is critical. Economic necessity has influenced the use of data in decision-making, and poor data quality is costing the US economy $3.1 trillion each year.
Transforming financial data into future insights
In the financial decision-making process, obtaining all relevant financial data is crucial.
As a result, addressing these two crucial roadblocks is critical in the financial decision-making process.
Combating latency issues with 5G and cloud edge
The existing cloud computing architecture is facing severe latency issues due to its centralized model. To address this, one can shift to a decentralized approach with 5G and cloud edge. By bringing all relevant data closer to where it will be processed, the storage edge (decentralized data center) will reduce latency, and 5G will speed up data retrieval by up to ten times compared to 4G. The computing edge (distributed computing paradigm) will assist in identifying the relevant data, which is a small fraction of the complete data and required for decision-making.
The use-cases below heavily rely on the result of decision-making in the capital markets industry.
In today's environment, these use-cases require gathering data from multiple source systems, then filtering out the relevant data for decision-making. Because 5G makes relevant data readily available for real-time processing, the outcome of decision-making will aid the above use cases to be more reliable and realistic.
The way ahead for 5G and cloud edge
With the increased need for decentralized computing and lower latency in decision-making, both 5G and cloud edge are poised to significantly improve the performance of applications and enable huge amounts of data to be processed in real time. They also aid companies in maintaining data integrity, allowing them to derive reliable intelligence from data assets and make smarter decisions. Enabling a fast and accurate decision-making process in the capital markets industry will not only make the decision-making process efficient but also maximize the gains, thanks to fast access to a comprehensive range of services at the 5G edge.