Tech giants ratify a key standard for 5G cellular technology

Major tech giants from around the globe announced Wednesday night that the first key specification has been agreed upon for 5G, the next generation of cellular technology.

Why it matters: Commercial availability 5G is still more than a year away, but it is now one step closer to reality. In addition to faster data speeds, 5G is designed to handle far more devices and pave the way remote applications, such as long-distance surgery that require extremely low latency.