AI in Telecommunications: why companies will lose if they don’t implement AI
As there has been an increasing demand in data, stiff opposition from legacy players, tech entrants, and startups the mobile market became very hard to compete. Such market pressure led to a declining average revenue per user. Moreover, improvements in infrastructure made mobile services simply comparable in terms of connection speed, coverage, service pricing, etc., meaning that companies have to transform in order to stay on top. That’s why companies have to invest in AI, and expected investitions are $36.7 billion annually by 2025. As AI is able to work with large datasets, provides deep analysis of the data, and trigger actions, AI can help telecoms cut their costs and make their job faster and easier by digitizing their operations. Moreover, AI enhances customer experience, which is essential for companies’ revenue, as every year businesses lose $62 billion after inferior customer experience. By implementing AI, companies can create a high-quality customer service. As for right now, 57% of entrepreneurs claimed that they will transform their companies in the next three years. If telecoms will focus on a hybrid organizational model to launch full-scale AI solutions that can bring much larger revenues than usual.