Whether the rapid rise of AI will impact, or, even, disrupt most of the industries is no longer up for debate. And the telecommunication industry is no exception. Markets and Markets predict the global market for artificial intelligence in the Telecommunication industry to reach a staggering amount of $2.5 billion by 2022.
Surprisingly, the onset of AI, Data Science, and Machine Learning will allow Telecom companies to achieve better performance, make investments as well as profit additionally. Telecom operators will be able to create additional revenue streams for themselves by exploring business niches they haven’t previously.
Let’s look at the major possible areas of interest for Telecom businesses in the AI space. Optimizing mobile tower operations, fraud detection, and enhancing customer experience are some of the most promising uses of artificial intelligence and Data Science in telecommunication industry.
1. Mobile Tower Operation Optimization with AI
Regular maintenance of mobile towers is a big hurdle that telecom operators face. These towers require onsite inspections to ensure that every machinery and equipment is working properly. This not only is costly in terms of money but also requires a lot of management.
In circumstances like these, companies can use AI-powered video cameras and robots at mobile towers. AI can also help to notify operators in real-time in case of hazard situations or other disasters like fire, smoke, storm, etc.
Telecommunication businesses can use IoT sensors at the mobile towers. These IoT sensors use many machine learning algorithms to analyze big data.
2. Enhancing Customer Services
Artificial Intelligence makes it easier for telecommunication companies to automate customer services and provide a personalized experience to the customers. We are all aware that “Customer is the King”. So by offering better customer care services telecom companies can retain their customers.
Managing customers and resolving every query manually is not easy. A large workforce 24/7 is required to resolve customer issues. Especially, the recent pandemic has shown us the importance of automation tasks such as customer services is a necessity. That’s where the advantages of Artificial Intelligence comes into play.
In a survey conducted by Deloitte, executives from telecom, tech, and media industries confirmed a significant investment in developing AI-based cognitive technologies with 40% experiencing “substantial ” benefits. 3 quarter of them said they expect cognitive computing to “substantially transform” their companies.
It is a medium through which you can provide 24*7 support. One prominent example is AI-enabled chatbots, which are revolutionizing customer services in almost every industry.
Data-Driven Decision Making
With a lot of data in your hand, it becomes exhausting for the employees to analyze data in a short amount of time. This is where AI comes in handy. Implementing AI helps telecom business leaders make effective data-driven decisions.
AI-based data analytic tools can sift through large amounts of data to interpret required information and discover hidden patterns in the data. This helps in intelligent product development.
4. Fraud Detection
With the help of AI, it becomes easier to implement algorithms that can detect and respond to fraudulent activities on the network.
Machine learning algorithms are used to cut down the many fraudulent activities by prominent telecom companies such as fake profiling, illegal access to the network, and more. The algorithm learns the difference between faulty and normal trends and finds anomalies by analyzing the data.
With the aid of these advances, the system can detect anomalies occurring in real-time. This is far more efficient than what human analysts can do.
5. Building a Stable Network Infrastructure
Artificial intelligence makes the improvement and optimization of network infrastructure easier for telecom operators. AI and machine learning analyze the data and make necessary corrections to offer continual services with a third party director.
This allows operators to create self-organizing networks also called SON – A network having the ability to self configure and self-heal any mistakes.
6. Higher Revenue Generation
Every organization focuses on maximum revenue growth by cutting down extra running costs. Telecommunication companies are no exception. Operating in an industry with massive amounts of data, it is a tough and time-consuming task to organize the data and use it for maximizing revenue.
But with artificial intelligence and machine learning in telecommunication industry, the management of Big Data becomes much easier. You can even link present CRM systems with AI and thus improve customer services.
Digital transformation is an inevitable process that global business is going through, adjusting to new conditions and preferences of society. The main driver of change is the modern consumers, it is thanks to them that the business changes under the influence of new factors.
So, telecom operators test and implement all the technological innovations that enable them to become providers of managed IT services.
Artificial intelligence is impacting the telecom industry in a lot of ways. With technologies like machine learning, data analytics, and IoT, telecom networks can now analyze large amounts of data and offer uninterrupted services to their customers.
Want to implement artificial intelligence in your telecommunication business, InvoZone will gladly assist you in strategizing, analyzing, and developing AI-based solutions for your specific needs. Schedule a call now.