Telecom major Verizon has signed deal with Nokia and Microsoft, media reports said. The partnership is part of Verizon’s 5G network development.
The deal will assist Verizon to attract more busines customers by providing client with the power to carry out activities such as factory floor automation, boost data traffic at a lower cost through private 5G networks.
Sowmyanarayan Sampath, president of Verizon’s global enterprise business, told the media, “Next year will be all about deploying private 5G and not about commercial success and we will start seeing early monetisation from 2022 onwards.”
The establishment of private 5G networks will assist businesses to carry out operations applications based on AR, ML and computer vison. Furthermore, the private 5G private networks will eliminate the need for businesses to compromise on speed for others in a public network.
It is reported that Verizon’s 5G network will help Microsoft Azure to process complex data in local facilities, while using AI to automate operations seamlessly. The tech behemoth rolled out the fresh service in September exclusively for telecom companies.
Ice Mobility, a US-based logistics company is the first customer for the new development. The development has paved the way for the company to seamlessly track product packaging without the need to check quality control.
The telecom major is interested to acquire share in new businesses through collaboration with big companies or acquiring stakes in the smaller ones such as VR company 8i and others.
The deal is a big achievement for Verizon in terms of 5G development.