Banking · 5G in Banking
Evaluate the following statements regarding the adoption of 5G technology in banking: Statement 1: 5G technology will revolutionize the IoT landscape, enabling smart devices like wearable rings to perform autonomous transactions with ultra-low latency. Statement 2: High-speed connectivity will enable Virtual Branches through AR and VR, allowing customers to interact with 3D bank avatars from home. Statement 3: The digital divide remains a significant barrier if banks prioritize high-tech digital services over traditional infrastructure in rural areas with poor 5G coverage. Choose the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All three statements are correct, highlighting both opportunities and challenges.✓
- 2Statement 1 and Statement 2 are correct, but Statement 3 is incorrect due to universal 5G coverage.
- 3Statement 2 and Statement 3 are correct, but Statement 1 is incorrect.
- 4Statement 1 and Statement 3 are correct, but Statement 2 is purely futuristic with no practical application.
Correct answer
All three statements are correct, highlighting both opportunities and challenges.
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