The telecommunications industry faces many challenges today. From a saturated marketplace to increasing costs and the struggle to deal with huge volumes of data that are generated from large customer bases, there is a lot for any business in this industry to process right now. Technology can help provide many of the solutions to these issues and AI in particular has a lot to offer. As a result, the global AI in telecommunications market is set to reach $14.99B by 2027*. These are some of the ways in which AI is advancing in the telecommunications industry today.
- Ensuring network optimization.
AI has a key role to play in supporting telecommunications companies when it comes to building self-optimizing networks that are able to handle the vast increases in subscriber numbers. With 63.5% of telecommunications companies are actively implementing AI technology**. AI algorithms, for example, can look for patterns in data so that issues can be predicted and fixed without any impact on service levels.
- Conversational AI for customer service.
Virtual assistants and chatbots help telecommunications companies to better handle vast volumes of communication and service requests. They can deal with everything, from queries about installation to troubleshooting and maintenance problems. Customer service organizations that implement AI into their infrastructure will see a 25% increase in operational efficiency by 2025.
- Monitoring the state of equipment and predicting failure.
AI has very effective predictive properties and is able to predict future results based on past data. So, data-driven insights can be used to ensure effective monitoring of existing equipment as well as anticipating future failures and issues. In the short term this means service providers can be more proactive at fixing problems and, longer-term it will support strategic goals, such as better customer experiences.
- Automation for efficiency.
The use of Robotic Process Automation enables telecom companies to provide an error free service across all of the millions of daily interactions the company may have with customers. It can speed up back-office operations and bring efficiency to labor-intensive, repetitive processes so that staff can focus on adding value elsewhere in the business. This can be applied to everything, from billing to data entry and order fulfillment.
- Fraud prevention.
The global fraud and prevention market is valued at $29.80 billion in 2021 and growing exponentially to reach an estimated $241.23 billion by 2031****. One of the major advantages of AI for any industry is that it can detect anomalies in real time - that’s a key benefit when it comes to fraud detection. For example, AI can be used to spot unauthorized network access or the use of fake profiles - and to block access to potential fraudsters. Given that 90% of operators are targeted by scammers on a daily basis this is a vital tool to have access to.
- Insight that leads to revenue growth.
Increasing the use of AI can generate vital insights that help telecommunications businesses to grow. It has the capacity to make sense of a broad range of data, from geolocation data to information about customer profiles, and this can be used everywhere, from cross-selling of services to ensuring that the right offer is made to the right customer at the right time.
AI use is slowly advancing in the telecommunications industry as the benefits for every service provider become clear.
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*’and ** The Impact of AI in Telecommunications’ Wizeline author Tajma Brown August 2022
***‘Why Conversational AI is becoming essential for Customer Service’ Conversation Design Institute, Author Saharsh Buxy July, 2022
****Fraud Detection & Prevention Market Research, 2031.Allied Market Research, Author(s) Vikas G, Pramod B, Vineet K. May 2022.