5G networks will enable up to 100 times faster speeds, 1000 times greater capacity, and latency 1/5th of current 4G networks. 5G is a fundamental building block that will power innovations in areas like blockchain, IoT, VR/AR, and AI by providing scalable, programmable, and distributed network processing. 5G can help address global challenges involving disaster resilience through improved risk forecasting and emergency response networks, education through real-time VR simulations, and new models of governance based on enhanced social and digital connections.