I believe we'll see more interesting solutions in industrial IOT when 5G becomes more widespread and industries can start touching problems that lower latency and higher bandwidth wireless can tackle.
With LTE you get less than 5ms latency, while 5G is promising less than 1ms. However, I think those numbers are under ideal conditions. AFAIK, there's no latency guarantee. Since I'm not familiar with the landscape, I'm having a hard time understanding what kinds of problems are bottlenecked by an hypothetical ~4ms?
The bandwidth improvements are huge, but there's no mention of guaranteed speeds, nor do they mention if the quoted speeds apply to both upload and download. It also important to remember that mobile data is incredibly expensive.
For most IoT applications all the processing can happen near the edge, with messages going up to the cloud about certain events.