This is a preview of the AI in Telecommunications research report from Business Insider Intelligence.
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In the face of rising demand for data, increasingly saturated mobile markets, and stiff opposition from legacy players, tech entrants, and startups, global telecoms are locked in a battle for market share. These market pressures have led to vicious price wars for mobile services and, as a result, declining average revenue per user (ARPU).
Making matters worse, improvements in infrastructure and technology have made telecoms largely comparable in terms of coverage, connection speeds, and service pricing, meaning companies must transform their businesses if they hope to compete.
For many global telecoms, shoring up market share under today’s pressures while also future-proofing operations means having to invest in AI. The telecom industry is expected to invest $36.7 billion annually in AI software, hardware, and services by 2025, according to Tractica.
Through its ability to parse large data sets in a contextual manner, provide requested information or analysis, and trigger actions, AI can help telecoms cut costs and streamline by digitizing their operations. In practice, this means leveraging the increasingly vast gold mine of data generated by customers that passes through wireless networks — the amount of data that moves through AT&T’s wireless network has increased 470,000% since 2007, for example.
In the AI in Telecommunications report, Business Insider Intelligence will focus on the use of AI to enhance the customer experience, which can directly impact revenue. Each year, an estimated $62 billion is lost by US businesses after inferior customer experiences, according to NewVoiceMedia. We will discuss the forces driving firms to AI, pinpoint some of the top use …read more
Source:: Business Insider