The Model Predict Control (MPC) based Intelligent Advance Metering (IAM) is a core maneuver of future smart grids (SG). SG is the advanced generation of electric power and utility system that improve operation technology (OT) and information technology (IT) to provide nonstop, self-recovery, self-configuration, low-cost, and security-based electricity to the consumer in real-time. Smart metering (SM) allows SG to connect the electric, gas, and oil utilities through sensors. Power plants, consumers, and utility companies will be received real-time wireless control IAM with fifth generation (5G) network technology. The aim of 5G network technology is to enable power grid digitalization (PGD) and facilitate the (IOT) Internet of Things for the future advance SG with benefits such as high-rate public safety, low latency, ultra-high speed, large number of connectivity, and reliability. In this paper, we analyze future predictions about energy needs by using MPC, fast self-recovery system, self-configuration, and upgradation, better performance of service provider, faster power connecting after an outage, control electric theft, minimize electric leakage, a large number of wireless connecting of IAM home-based, and real-time monitoring via human machine interface (HMI) and for customer end IAM operation over 5G networks to reduce billing price, reduce meter cost, lower outage cost, and as well as personalized control over electricity consumption and future challenge in this area.