Digitalization has been largely responsible for globalization. It has changed the way we communicate, the way we travel, the way we shop, the way we handle our finances, or even the way we make a payment. While most sectors have quickly digitalized to keep up with the way markets are changing, one industry has not been as quick to adapt: the Telecom Industry.
Does the Telecom Industry need to adapt?
If it does, then why? The short answer is yes.
Mobile operators are increasingly looking to digitalize their platforms. The demand for data has grown and social media is largely responsible for it. With landlines no longer in fashion, the use of cell phones and data usage has shot up. We are constantly connected to each other through instant messaging, video calling, status updates, or even temporary stories.
The Telecom industry has been struggling to meet the current demand for data due to a lack of infrastructure and capacity. The current digital trends in the telecommunication industry show that more and more companies are moving towards digitalization. This is due to the fact that 5G Technology is currently on the rollout. It is still not clear what kind of technological advancements and applications the advent of 5G technology will lead to. In order to be able to keep up with the market telecom industries are having to digitalize so that when 5G definitively rolls out they can keep up with the kind of apps, infrastructure, and advancements that it will bring.
A Matter of Survival
It is for this reason that the digitalization of the Telecom Industry has become more important than ever. To survive, mobile operators need to be able to give customers what they need while making a profit. At the same time, telecom operators need to keep up with the market, and with their competition and most importantly stay relevant. The only way to do all of these things together is by shifting their platforms to be digital or by looking at digital solutions.
The future is promising to rely greatly on technologies such as artificial intelligence, cloud computing, blockchain, and many others. If the Telecom industry fails to keep up now, it will be impossible for it to catch up in the next five years given the pace at which digitalization is changing. Another important aspect of digitalization is that not only will it help provide better services to consumers, but it will also optimize the way the industry functions.
Artificial Intelligence & Robotics
Artificial intelligence or AI is already leading to massive changes within the Telecom Industry. It has helped companies with predictive maintenance by creating algorithms. These algorithms allowed the AI to predict failure through patterns allowing it to solve the issue before it actually happens. It makes customer support much easier and helps with network optimization. The analytical capabilities of artificial intelligence are far better than what humans can provide, while significantly reducing the kind of effort and time that is usually required in such analysis.
Digital trends such as Artificial Intelligence will also enable customer segmentation. For any business, they must be able to cater to their customers and their needs in a personalized manner. However, it is not always possible to do so since the information and customer insights required is not available. Artificial intelligence will allow telecom industries to collect the relevant data and insights and help create different customer segments. These segments are divided based on customer-specific data enabling companies to provide support on a customized basis.
An important technology that telecom industries are increasingly looking at is robotics. Known as robotic process automation, there are multiple advantages to this technology. Research has shown that adopting robotics into the industry will allow cost-saving and reduce manual labor. This technology allows processes such as data entry, up-selling, customer support, and many others to be handled automatically. This gives industries the ability to handle their data and to organize it with far more expertise and structure than was previously possible. It greatly reduces the room for human error and helps maintain data security as well as integrity.
Internet of Things or IoT is another trend that is increasingly coming into focus and it would be amiss to not mention it. The internet is connecting devices and the world to each other. They collect and share data without human interaction. The Internet of Things allows us to connect digitally to our surroundings. IoT makes it possible to connect with IoT enabled devices and making processes. This includes devices such as turning on the lights, adjusting temperature, locking doors or others.
The Internet of Things is bound to transform the way we communicate and will have a massive effect on the Telecom industry. It has been speculated that IoT can help telecom businesses with processes such as location services, low powered WAN, enabling autonomous vehicles, and even data analytics.
Digitalization will also enable certain measures that are vital for any industry data protection and security. Security breaches have become increasingly commonplace and with the kind of information about individuals that is available online, it is more important than ever that their data be protected. Security measures such as encryption more important than ever.
Digital solutions are the future. They will help provide the kind of infrastructure and bandwidth that is necessary for the Telecom Industry. There is no way of escaping digitalization. Rather, it is time for Telcos to wholeheartedly accept digital trends and ensure that they take advantage of these solutions. It has become evident that AI, IoT, cloud computing, and other digital technologies have a lot to offer. This in terms of data solutions, customer service, infrastructure, security, analysis, and practically every other need of the industry. Existing platforms need to digitalize to take advantage of the solutions and resources being presented to them.