When 5G arrives, it will be a bit like 4G: faster and it will drain your phone's batteries. And service will be patchy.
But give it four or five years, and it will be transformative. Autonomous cars will use it to communicate with the outside world and even other cars (although there will be other standardised car-to-car protocols for that). The cars themselves will have incredible connectivity, enabling all sorts of display content.
In fact, everything that wants to be will be connected to anything else that needs high bandwitth with a low latency. You might always want to have local storage in your camera, but you might also want your raw footage to be transferred without your own intervention to your RAID array in your office.
Augmented reality will have access to rich and detailed data with virtually no latency, and will be able to use GPUs in the cloud without any percievable delays.
This promotional film from the Japanese Ministry of Information and Communication is a somewhat rose-tinted view of the future with 5G, but at least some, if not most, of it is going to be true before very long. And it's nicely made, too!
(Thanks for RedShark contributor Craig Marshall for making us aware of this!)