5G gives business an edge: Verizon CEO

5G Edge will create a high-speed cloud computing network giving businesses the ability to process data in real time

5G is not just for cellphones. Verizon sees opportunity for growth by expanding its 5G services to commercial applications by partnering with Amazon for high-speed cloud computing.

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“Together with Amazon, we’re taking their cloud services, moving it out to the edge in our real estate and then we create new services out there,” Verizon CEO Hans Vestberg told FOX Business’ Maria Bartiromo.

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Instead of utilizing large centralized data centers, the Verizon 5G Edge system works by establishing smaller data centers in “key locations.” This allows data to be gathered where it is created — resulting, according to Verizon, in “greater performance” and “contextually aware applications.”

Verizon’s customers can store their data on their own premises, according to Vestberg, and therefore don’t need to send it to off-site facilities if they believe it is sensitive.

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“Developers can actually access the first mobile edge compute center in Chicago and actually develop a service for an enterprise or for a consumer that requires low latency, for example, that you only can get if you’re absolutely at the edge on the network,” Vestberg said.

Verizon’s partnership with Amazon Web Services is intended to provide businesses with high-speed access to cloud computing. This, according to Verizon, gives companies access to real-time analytics, improved autonomous driving and immediate streaming capabilities.

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“Then you can make automation in the manufacturing, put 5G in the robotics and then suddenly you can refurbish the whole factory much quicker,” Vestberg said.

Vestberg sees a variety of uses for the 5G platform, leading the company to engage with enterprises to see how they are going to use it. Verizon works with 98 percent of Fortune 500 companies, he said.

Ultimately, it is Verizon customers who are going to build applications for 5G Edge, according to Vestberg, but Verizon will enable them with its platform.

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