Verizon CEO: 5G will transform the world

Verizon (VZ) CEO Hans Vestberg on Thursday said that 5G connectivity will have an enormous impact on how consumers and businesses operate across the globe.

"This is one of the most important technologies to transform the world," Vestberg said during the Yahoo Finance All Markets Summit in New York. (Note: Verizon is the parent company of Yahoo Finance)

According to Vestberg, Verizon has three main business cases for 5G. There's the main consumer use case, which includes 5G smartphones; there's in-home 5G, which the company began rolling out in 2018; and there is the edge-computing 5G, which is the kind of 5G connectivity that businesses will take advantage of.