This Industry Viewpoint was authored by Amir Kotler, CEO of Veego
It’s a misnomer that dinosaurs did not adapt and as such did not evolve to be more intelligent. They did! Well not all dinosaurs.
Some Dinosaurs evolved into modern birds and some of them are extremely intelligent. In Japan, there are crows that have learnt to use the traffic to crack the shells of nuts that they drop – and they will wait for the lights to turn red, so they can safely retrieve them.
The African Grey Parrot, a descended of the surviving dinosaurs seem to have the analog of human intelligence. They can add and subtract and even speak in complete sentences.
Some scientists ascertain that although incredibly instinctual, some dinosaurs would have never evolved into intelligent creatures. The reason is that intelligence is thought to require some sort of environmental contextual awareness. In a static environment where hunting was the name of the game, dinosaurs thrived. But once cataclysmic changes impacted the world, some dinosaurs simply did not adjust because of their lack of adaptability.
For humans, the development of contextual awareness arguably happened some 20 million years ago, because of climatic change. Emerging primates (early humans) developed intellect capable of contextual analysis to manage chronic food shortages.
In many ways what happened to the dinosaurs is happening today to organizations that are not adapting. The mega-exponential pace of technology, the tremendous availability of data, the onset of 5G, combined with Corona can be considered a modern-day meteor. Ready to wipe out those who are not adapting, changing, evolving.
In the world of telecom and broadband, huge brontosaurus’, agile TRexs’ and lightening quick Raptors are assertively walking the earth. Not knowing that a devastating evolutionary cataclysm is taking place.
That evolution is Artificial Intelligence, and it involves digital technologies and machine intelligence that are increasingly transforming the way we live and work. Faster and more versatile connectivity, together with rampant increase in the availability of data collected and analyzed in real time, offers providers with unprecedented opportunities and challenges to evolve.
According to Valuates Research, “The global Telecommunication market for AI is projected to reach USD $13.4 Billion by 2026, from USD $773 Million in 2019, at a CAGR of 49.8% during 2021-2026. Major factors driving the growth of AI in telecommunication market size are, increasing adoption of AI for various applications in the telecommunication industry. Artificial intelligence is very helpful in improving the performance of the telecommunications network. With artificial intelligence and machine learning aid, the telecommunications network can operate independently and make a qualified decision to minimize the network.”
What is AI? In the context of the Connected Home AI are essentially programmable functions and systems that enable Telcos/ISPs/CSPs to analyze home devices and learn, reason, and process information like super-humans. AI has become central to the telcos’ digital transformation as it helps the delivery of superior performance in the short and long term. Today’s Communications ISPs/CSPs face increasing demands for higher quality services and better customer experience. And telcos are capitalizing on these opportunities by leveraging the vast amounts of data collected over the years from their massive customer bases.
“Growing over-the-top (OTT) services, such as video streaming, have changed the delivery and consumption of audio and video content. As more customers turn to OTT services, the need for bandwidth has increased considerably. Carrying such ever-increasing traffic from OTT services contributes to high operating Expenditure (OpEx) for the telecommunications industry. AI allows the telecommunications industry to minimize operating costs by minimizing the human interference required for network setup and maintenance,” noted analysts.
How is AI Changing the Telecom Landscape?
Reducing Operational Costs, Increasing Revenue.
The telecom industry is one of the sectors that generate massive amounts of data requiring that can be leveraged and used to reduce operational costs. AI and relevant data can be used to automate and streamline customer care. If the customer is not satisfied with the services provided, there is a possibility of them shifting to an alternative service provider. By implementing a right-fit customer self-care services, providers can elevate the costs of inadequate customer services. The appropriate use of AI and subscriber data can improve customer service and improve loyalty, reputation and ultimately generate revenues.
Personalized Experiences and Services
In today’s digital world, consumers expect a lot, and their expectations are not only limited to excellent service. Consumers are call out for personalized experiences every time they connect. Here, Intelligent Virtual Assistants can enable effective and customized customer engagement. As a foundational technology, AI can help telecom reinvent customer relationships through personalized, intelligent, and persistent two-way conversations at scale.
Using Predictive Analytics
Using Predictive Analytics, CSPs can make efficient and effective business decisions. Some of the major benefits of Predictive Analytics include customer segmentation, customer churn prevention, predicting the lifetime value of the customer, product development, and price optimization.
Driving New Business
AI opens significant new business opportunities for telecom operators. Some example services are intelligent streaming, personalized customer packages, etc.
Today’s Telcos, ISPs/ ICPs are reinventing themselves via AI to adapt to the new landscape. At the heart of this evolution is the is customer experience in the format of extreme personalization, immersive experiences, and better product bundles for both consumers and businesses.
About the Author
Amir Kotler is a highly respected CEO of both start-ups and established enterprises with multiple assets and holdings. He currently holds the post of CEO of Veego, Inc., a technology leader focused on bringing artificial intelligence and other breakthrough technologies to the automatic detection, analysis and resolution of connected-home device problems. He holds an MBA in Marketing from the University of Manchester.
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