The emerging wireless applications such as the Internet of Things (IoT), machine type communication and cyber-physical systems are important use cases of 5G services. Compared with traditional networks, a distinguishing feature of communication in these applications is the inherent asynchronism in communication, i.e., the nodes transmit information sporadically. For example, a sensor node may send a few hundred bits of information every few days. In such cases, there is not only uncertainty due to noise to contend with, but timing uncertainty as well. In this seminar, a review of asynchronous point to point communication models suitable to study communication in such applications will be presented. The fundamental information-theoretic limits of communication in this regime; the notion of rate/capacity and the impact of transmission window size on the communication rate will be discussed. We generalize the asynchronous communication framework to general packet arrival distributions and present the capacity characterization. The talk shall end with a note on future research directions.