In this paper, the design of four-element Multiple Input Multiple Output (MIMO) antenna systems has been proposed for intelligent internet of Everything (IIoE) and high-speed data applications. The presented antenna design operates at 4.9 GHz (5G millimeter wave applications) with high isolation in a small size. Defected Microstrip Structure (DMS), slot modification and orthogonal polarization are used to create the desired frequency band, improve the impedance bandwidth and enhance the isolation between the antenna elements at 4.9 GHz, respectively. Furthermore, the usefulness of the proposed MIMO antenna has been verified by comparing the simulated and the measured results using a fabricated version of the considered 4x4 MIMO antenna. In addition, the results indicate a high diversity performance in terms of: Envelope Correlation Coefficient (ECC), Diversity Gain (DG), Total Active Reflection Coefficient (TARC) and Total Channel Capacity Loss (CCLTotal).