The Technology Modernization Fund (TMF) was created by the Modernizing Government Technology Act of 2017 to more quickly fund needed modernization projects across government. With TMF, agencies can apply for funding to complete modernization activities without having to wait for the budget cycle to begin work on critical digital initiatives. Funding is incremental to ensure projects are working as expected.
Agencies must repay the investment either using the cost savings achieved with the tech implementation or through future budget allocations. The model is working. Of the 11 initial projects to receive TMF funding, two agencies have already reimbursed the fund, and five others have completed their projects and are in the process of reimbursement.
Pandemic-necessitated remote work and increased reliance on online apps and sites for routine everyday tasks like shopping and transportation showed us that Internet connection is a critical utility. It also proved that getting connected is not enough -- the speed and quality of that connection have a huge impact on how we carry out day-to-day activities. In a timely coincidence, this reliance on connectivity comes at a time when networks are improving their service to supply that exact speed and reliability.
Introducing a Whole New Level of Speed: 5G
5G promises to be faster with less latency when connecting to the network. The speeds afforded by 5G mean that visions for smart, connected cities can be logistically achieved as 5G networks will be better able to handle more users, lots of sensors, and heavy traffic. The Department of Veterans Affairs is already tapping into 5G to allow doctors to use augmented reality to look at and manipulate large imaging files, like MRIs or CT scans.