The fifth-generation cellular mobile networks are expected to support mission critical ultra-reliable low latency communication (URLLC) services in addition to the enhanced mobile broadband applications. This article first introduces three emerging mission critical applications of URLLC and identifies their requirements on end-to-end latency and reliability. We then investigate the various sources of end-to-end delay of current wireless networks by taking the 4G Long Term Evolution (LTE) as an example. Subsequently, we propose and evaluate several techniques to reduce the end-to-end latency from the perspectives of error control coding, signal processing, and radio resource management. We also briefly discuss other network design approaches with the potential for further latency reduction.