What if there was a way for you to increase management of your electricity use and pay less for your electricity bill? What about reduce traffic congestion in your city, or avoid it all together? How about make sure a first-responder can arrive more quickly at the scene of an accident?

According to a recent report released by Accenture, all of this is on the horizon.

While smart city applications leveraged today are already providing benefits to communities across the country, we are on the verge of a full smart city revolution that will engage all aspects of our daily life. And all of this is being built on the next generation of wireless infrastructure—5G.

So what are some of the potential benefits of 5G and how can it help me? Here are some examples:

Problem: Electricity stops working in your house because of a storm?

Solution: Advanced sensors from smart grid technology can remotely monitor electricity outages to reduce outage times and speed up repairs.

Problem: Crime is on the increase in your neighborhood?

Solution: Wireless sensors can provide real-time, location specific information when a firearm is discharged allowing first responders to react immediately.

Problem: Circling a shopping center looking for parking?

Solution: 5G technology can help you find and reserve an empty parking spot and help you manage real-time traffic information, including the consideration of traffic lights.

As an added bonus, this next generation of wireless technology is expected to create 3 million new jobs and boost annual GDP by $500 billion. Small to medium-sized cities with a population of 30,000 to 100,000 could see 300 to 1,000 jobs created.

Driving this is a projected $275 billion investment from the wireless industry!

The city of the future—the “Smart City”—is a connected 5G-powered ecosystem that will create a safer place for us to live and work, with benefits that are good for us and good for the community. In fact, wireless 5G infrastructure will produce an estimated $160 billion in benefits and savings: Reducing energy usage, decreasing traffic congestion, and lowering fuel costs. Now that is smart.

Read the full Accenture report: Smart Cities: How 5G Can Help Municipalities Become Vibrant Smart Cities