Telecom Industry is at the epicenter of growth: How is AI Fostering The Growth?
AI or Artificial intelligence is gaining prominence every passing year. And it’s easy to know “why?” Alexa, call Ronny! No longer one has to limit themselves to essential phone services, thanks to the growth of AI. And the telecom industry is not immune to these changing times. In fact, this industry is at the epicenter of technological evolution.
As per a survey, more than 30 billion connected devices will be in use by 2021 worldwide. And with the demands of quality services and better CX, the telecom industry needs to leverage the vast amount of data. And this is only possible if you harness the power of AI to process and analyze actionable insights from Big Data.
These actionable insights help to improve:
- Customer experience
- Improve business operations
- Increase overall revenue
Are you wondering how AI is helpful in the Telecommunication Industry? Let’s find out now!
AI in Telecom Industry: How is it Helpful?
Digital transformation is more than the need of the hour. Regardless of the niche, businesses need to leverage modern trends like data, automation, and digitalization to stand out. This is why organizations across the world are realizing the importance of 5G and AI to drive transformation.
The applications of AI are endless. AI in the telecom industry helps to provide superior services and better customer experiences. Here’s how!
The use of AI in Network Optimization
Based on the information available, Ai is helping organizations build self-optimized networks. Precisely, they are using information like region and time zone traffic. The technology uses algorithms to unravel the patterns, thus helping companies to identify any anomalies. Hence, enabling them to fix problems without impacting their customer experiences.
As per a survey, more than 60% of the operators using AI-based technology helped improve their infrastructure. Here are some real-life examples.
- ZeroStack analyzed private cloud management helps the operators analyze private cloud telemetry and use it to upgrade and improve the capacity.
- Aria Networks helps to count the number of Tier 1 telecom companies as customers.
- Sedona Systems’ NetFusion helps to optimize traffic and speed delivery.
- Nokia launched a learning-based AVA platform that helps with maintenance and predicts service issues in advance.
The use of AI in Predictive Maintenance
AI-driven analytics helps telecom companies to provide better services. They analyze data by utilizing different algorithms that help them predict future issues way before it happens. For instance, they use these insights to anticipate any failure, power lines, or communication hardware issues, power lines, and so much more.
In short, it helps to determine any root cause of the issues that might hamper your strategic goals. For instance, a solution by A&T is using AI to maintain their networks. Thus, it’s helping them to expand their LTE network coverage. They use the data captured by drones and use it to maintain their towers.
But that’s not all! The same technology is helping operators introduce voice response systems that help them track customer behavior, which is turning out to be quite successful. For instance, a Dutch telecom company, KPN, is using this technology for tremendous success.
The use of AI in Customer Support
This is yet another benefit of using AI in the telecom industry. For instance, using virtual assistants is quite common. They automate and scale one-on-one conversations that can help improve customer experiences. However, as per a research study, these conversations cut business expenses by around $8 billion in 2022.
These virtual assistants help with troubleshooting, maintenance, and customer satisfaction without overwhelming customer care centers. Vodafone implemented this technology and increased customer satisfaction by around 65%. The chatbot responses help them solve simple customer queries.
Another example, MIKA, a virtual assistant from Nokia, improved around 20-40% of first-time customer issues. In the same way, another voice assistant, Aura, helped reduce customer service costs. Integrating visual support within IVR helps with improving average handling times, which eventually helps with better CX.
The Use of AI in Robotic Process Automation
Customer support services of the telecom industry have to engage with millions of daily interactions that sometimes cause human error. However, with RPA integrated with AI, one can improve back-office operations and management, usually labor-intensive and time-consuming.
For instance, as per a survey, more than 40% of Telecom, Media, and Tech people exclaimed benefiting from cognitive technologies. For example, Celaton helps telecoms streamline data, such as emails, posts, and more, by presenting good responses to the customer service reps who can amend depending on their responses to customers. The idea is to improve operational efficiency and the quality of the services.
How is it Beneficial For Telecom Operators?
- Reduces cost: This industry generates a lot of data and requires heavy investments concerning data management. Using AI can reduce operating costs drastically since one doesn't have to manage this amount of data manually.
- Maintains tower operations: The need for on-site inspections helps with the functioning of the mobile towers. However, it is pretty labor-intensive. But AI-powered video cameras can help with better efficiency since they will quickly raise the alarm in case of an impact like fire, smoke, or disaster.
- Better customer services: Since you automate all your processes, customers automatically become happy and satisfied with minimal issues. And one can efficiently work around the concept of personalized experiences. And everyone knows how personalized experiences are helpful nowadays to gain new customers while retaining new ones.
Final Words: AI is the Future of Telecom Industry
Using services like AI, Big Data, sensors, robots, and video cameras gives organizations an edge to expand their reach with minimal churn rates. It won't be wrong to say that AI-driven services can help generate millions of dollars and new businesses. Not only is AI helping manage infrastructure, but it's also assisting in optimizing and maintaining services that result in better customer experiences.
So, one needs to ensure integration of such tools in their current business offering to leverage their benefits and grow their business by multiple folds. Looking to accelerate growth in this highly competitive space? Turn to AI-powered tools and see the results yourself.
