With network traffic growing faster than any other period of time, and digital technology changing the world, we see telecommunications playing a major role in changing the way we live, work, and play.

We are on the cusp of the fourth industrial revolution with a number of technologies like software defined networks, Internet of Things, cloud computing, big data, machine learning, and artificial intelligence all arriving together at scale and impacting our lives in very different ways.

This convergence of technology will impact everything from agriculture to resources and mining, retail to logistics and supply chains, and health care and the provision of other critical social services to telecommunications.

We see connectivity being the common thread across these different technologies, and playing a critical role in binding together countries and the region to support local organizations’ regional operations and global expansion.

A recent McKinsey study has forecast that by 2035, 5G will enable USD 12 trillion in economic output globally and support 22 million new jobs.

5G in itself is transformational from a mobile communications perspective, but the true disruptive power of 5G is that it is arriving at exactly the same time as other technologies, which will make the transition to 5G far more revolutionary than earlier shifts in mobile technology.

From a mobile technology perspective, 5G is essentially solving three things – speed and capacity, latency, and device density. This could give rise to an incredible networked future where:

• Entire transport systems are managed and synchronized to the real-time movement of vehicles and passengers.
• Fleets of drones are being used for deliveries, search and rescue, to deliver high-quality live video for news, and security surveillance.
• Manufacturing and supply chains that are capable of learning in real-time are delivering incredible gains in efficiency and productivity.
• Walking into a bank branch and never having to ID yourself or the need for pin numbers because facial recognition does that for you instantly.

The telecommunications industry has traditionally had a long history of innovation. We’ve seen how the latter is key to keeping pace with the changing needs of customers as business, society, and technology continue to evolve faster than ever.

While innovation is important, how we’re driving it also matters. Earlier this year, Telstra released new research on digital transformation, which surveyed more than 3,800 organizations around the world on how they made decisions on their digital transformation. The research found that people were the top-ranked factor in decision-making when it came to delivering innovation in new markets, as well as challenging the status quo to differentiate and seize new market opportunities.

However, when the research looked at the ability to contribute to overall digital transformation decision-making, people emerged as the lowest-ranked factor. This tells us that while people are a vital digital transformation asset, organizations need to empower their people more. If organizations can empower their people to design and implement digital transformation projects more often, they can unlock the potential of their workforce and improve their business outcomes.

Being a PTC Member has enabled Telstra to participate in exchanges and engage a broad community, both of which shape the development of ICT across the region. This ensures we have our voices heard and are part of the community that’s driving change and progress in telecommunications.

PTC’s agenda aligns closely with Telstra’s business focus, with the Asia Pacific being Telstra’s strategic base and home market where our core assets, infrastructure, and the majority of our workforce are. Like PTC, we’re excited about the possibilities that come with increasing digitization and the fast-growing markets in Asia we seek to connect with the rest of the world.

Be BOLD. Our industry is dynamic, with technology trends these days continually changing. Boldness means continuous learning and having a point of view where it matters. Change is the only constant, so how are we bold enough to embrace it?

Have INTEGRITY. With winds of change blowing across the industry landscape, there will be regulatory and commercial shifts in the business environment. We need to be able to respond quickly to these shifts without compromising our integrity or professionalism.

Develop a COMMUNITY. In all my years in the industry, I have found this to define the route to success. A community brings together the best of each individual, and it is only with a community that we thrive and achieve great things. No man is an island, so being part of a community enables us to continue to learn and mentor each other, bringing out the best in all.

Richard Branson is a business leader I look up to because he’s bold in taking risks and accepting failure, as well as being open-minded and brave enough to move on to new ventures.

Branson is also well known for his passion in pursuing his business endeavors – and rightly so. This is an attribute I admire, for it stems from finding meaning in what you do which leads you to love what you’re doing. From that I’ve been motivated to do the same. Through passion in what we do, we can develop the deepest respect for people whom we work with, as well as those we love. Like a virtuous circle, this helps to keep the passion going.

Branson is equally known for having fun while living life and doing business – his legendary publicity stunts need no introduction! This has reminded me that one shouldn’t hold back as life is short, and it’s more important to live in the present. I’ve been motivated to do the things that I hadn’t done in 20 years, and also to find my balance between work and play.