Telcos face big challenges but also opportunities with the emergence of 5G and hyperscale networks. While a clear 5G picture has yet to emerge, 5G aims to handle up to 1,000 times more data than current networks with 20 times the speed. It could facilitate new uses around augmented/virtual reality, smart cities, autonomous vehicles, and more. Realizing this potential depends on telcos' ability to build flexible networks and partner with technology vendors. The next decade will likely remain focused on 5G/5.5G deployments as mobile powers most new applications.