As we anticipate the expansion of 5G networking, many of us look forward to its high-speed connectivity — eventually up to 10 gigabits per second. Others are eager for its expanded bandwidth, capable of supporting a massive number of devices. Still, others have an eye on 5G’s ultralow latency, taking minimal time to move data from device to cloud and back again.

The real appeal of 5G, I believe, will be in the powerful combination of all these advantages. I see 5G as a foundational platform that will enable emerging technologies, particularly the Internet of Things, to fully mature. Although plenty of IoT devices are on the 4G spectrum, it lacks the capability to support the device explosion that many see as the future of IoT. Those same limitations don’t apply to the 5G spectrum.

Use cases for the Internet of Things have diversified quickly, but most applications are designed to achieve one (or more) of the following objectives: obtaining data for data-driven business decisions; having the capability to remotely control and monitor assets, such as digital signage or city lighting; and automating operations, such as a manufacturing production line.

Traditionally, the network infrastructure that supports business is focused on indoor switches, routers and access points. With the IoT revolution, often that’s the initial plumbing required to connect sensors, physical machines and wireless devices to the network. In recent years, companies have begun to expand the enterprise infrastructure and reach outside of the four walls of the business, leveraging IoT technology to work in new spaces that were previously unconnected — for example, with switches and routers hardened for outdoor environments connecting mobile devices back to business applications. Whether it’s controlling, monitoring or automation that’s needed, we’re no longer limited by building boundaries.

Advancing IoT yet again brings up three major challenges, and that’s where we’ll see a new wave of technological evolution.

Players use a variety of strategies in Monopoly. If you are familiar with the game, you know you must achieve a monopoly before you can build, and you need four houses before you can add a hotel. My preferred strategy is to establish an infrastructure before I start building houses. I try to buy railroads and utilities, as well as the less expensive properties on the board.

In this way, Monopoly mirrors the Internet of Things. As localities try to implement IoT technologies for smart cities initiatives, they need an infrastructure that includes networking, storage and processing to handle the data that will be collected, stored, transmitted and analyzed. And starting with smaller, less expensive projects can help them establish a record of success before they move on to bigger things.

Everyone has a preferred method when playing Monopoly. Some people save up and get Park Place and Boardwalk — others prefer to acquire the railroads and utilities. Whatever your way to play, the reality is that it can all go to pot if you land on the wrong space.

The Internet of Things holds incredible promise, from the cost savings afforded by facilities management sensors to the data-rich insights organizations can glean from connected devices. Even better, we’ve barely scratched the surface of what a mature, sophisticated IoT landscape will eventually look like.

But these advances often come with a risk — for now, anyway. Security has been a significant challenge for IoT devices, and we’ve already seen plenty of unfortunate cases where hackers have used connected devices to gain unauthorized network access.

Consider a food manufacturing environment, where a connected thermometer monitors temperatures in pipes or storage containers and communicates with the Wi-Fi network so it can send that data to a database. If the device is not properly secured, a hacker could interrogate the thermometer to discover credentials that enable access to the network, or even to upload instructions that would leverage the thermometer to deliver a virus.

Organizations could use blockchain to close these vulnerabilities, adding a layer of security to make IoT devices less susceptible to exploitation.

As localities slowly begin to reopen, technology will be an essential part of the process. The digital infrastructures at the heart of many modern cities may prove critical to keeping the coronavirus at bay. There are many other potential coronavirus-related applications for video in digitally connected cities and the organizations within them. Some, such as using facial recognition for contact tracing, may be controversial, and there are certainly privacy and security issues that municipalities must address. But the fact that a device as simple as a mounted camera combined with powerful analytics software might be used to accomplish in just a few seconds what would otherwise be quite difficult — that’s something localities and other organizations must consider.

5G is the next generation of mobile broadband, and it will eventually replace consumers’ and corporations’ 4G LTE connections. With 5G, users will see exponentially faster download and upload speeds, with drastic reductions in latency. This will open up a new world of possibilities, and it’s easy to understand why the technology is the subject of such breathless coverage in the press.

At the moment, the reality of 5G doesn’t match this hype, but that’s only because the infrastructure isn’t in place yet. Most serious industry observers predict that it will take at least a year or two for wireless carriers to build out 5G networks capable of supporting widescale use. But once that infrastructure is in place, it truly will change the world — and businesses should begin preparing today.