The "G" in 3G, 4G and 5G stands for "generation." So 5G will be the fifth generation of wireless network technology.

The standards for 5G have not yet been set. According to Bill Smith, president of AT&T's (T, Tech30) network operations, 5G will likely be defined in 2018, and the standards for 5G will codified sometime in 2019 by the standards-setting International Telecommunication Union, a branch of the United Nations. The standards will determine which wireless technologies can be called "5G," as well as what its characteristics must include, such as how fast it will be.

Still, it's possible to make a very educated guess about what 5G will look like based on the emerging 5G technologies that the wireless industry is experimenting with.

Here's the elevator pitch: 5G will be faster, smarter and less power-hungry than 4G, enabling a slew of new wireless gadgets. 5G will let us have faster smartphones, more smart-home devices and longer-lasting wearable gizmos. (from CNN)