How Cloudapps is Transforming Telcos with Artificial Intelligence
Recent studies highlighted key areas where Artificial intelligence (AI) is going to be the driver in the telecommunications space within the next few years, and transformation is well underway. There is no going back to the good old ways, telco’s must either cope with fluctuating demand levels and sharply pivot placing consumer confidence as priorities.
Fears of AI replacing jobs have more or less subsided as employees adapt to and accept AI as a productivity tool, and there is no doubt, those who harness the full potential of AI within telcos will thrive tomorrow. And it’s really incumbent upon the C-suite level executives to lead that charge.
COVID-19 has no doubt accelerated the urgency of AI adoption and here are the key areas at play:
More than ever, the focus is on customer experience by providing extreme personalization, immersive experiences, and better product bundles for both consumers and businesses.
Problems arise when any fall in demand for new devices and roaming services could run into payment issues, especially with B2B customers. While continuing to service to residences and small businesses, even those that are unable to pay their bills.
Both B2C and B2B customers will need stable connectivity. The increasing stay-at-home new norm has placed greater emphasis on digital entertainment and the need for higher bandwidth with many relying exclusively on online to make day-to-day purchases.
AI technology can help telcos reinvent customer relationships by identifying personalized needs and engaging with customers through hyper-personalized one-to-one contacts.
AI also enables operators to forecast demand more accurately, anticipate network load, and adjust capacity and throughput automatically.
Cloudapps telco clients have been deploying hyper-personalization AI based on Deep-Learning algorithms allowing them to adapt quickly to fast-changing contexts, even where there are hardly limited human interactions with customers and data is sparse. The main use cases are predicting new business, customer churn rates, and sales insights, as well as forecasting. All done with a high degree of prediction accuracy.
2. BUSINESS OPERATIONS:
Telcos must build crisis-proof processes in functions such as sales, customer experience, and delivery. This will help their organizations become more flexible and agile, which will allow telcos to recover faster from disruptions.
Protecting employees’ morale, motivation, and health must be every telco’s top priority. AI can contribute to increasing employees’ satisfaction and well-being. For instance, it can help with up-skilling people for the post-crisis rebound by aiding in the creation of remote boot camps, gamification, and identifying cross-skilling opportunities. Adopting AI-powered tools to streamline interactions between teams will help reduce the friction between marketing, sales, ordering, delivery, and after-sales support. Too many of these interactions are reactive at present, resulting in errors, wasted time, and increasing costs. Using AI also enables employees to perform more value-added work while machines do repetitive and routine activities.
Opportunities to use AI at scale are available all along a telco’s value chain. Collectively, these measures can increase the average telecom company’s revenues by up to 10% and simultaneously reduce its costs by as much as 20%. Clearly, AI is a necessity, not a luxury, for telcos today. The issue then becomes how best to execute an AI-based transformation.
Download: Telecommunications Toolbox Bundle
We have put together the ‘Telecommunications Toolbox Bundle‘ outlining how the Cloudapps AI platform addresses all these issues – fill out the form below and download the Toolkit Bundle