Generative AI. A generational opportunity for the Telecoms Industry

A virtuous cycle of advancement

Generative AI will change the telecoms industry forever, that much is clear. It offers the opportunity to create a virtuous cycle of advancement that will improve the fortunes of telco’s and network service providers, their clients and their client’s customers in ways that cannot be overstated. As with all seismic changes, there will be challenges and obstacles to be overcome but rarely has a new concept promised quite so much for provider and end-user equally. The potential impact on cost saving, cyber security and service quality are staggering and it’s difficult to identify who will benefit most. But benefit we all will.

Customer first

Customer engagement, service and satisfaction levels stand to benefit enormously from improvements in information provision through omnichannel experiences that will finally realise the potential offered by ‘Big Data’. Natural Language Processing (NLP) will create instant engagement experiences in a way that is not only adaptive through machine learning (ML) but also centralises knowledge and creates an asset for businesses that can then own knowledge in a way that has never really been possible before. In the simplest terms correct application of Gen AI can enhance customer experience and provide them with a fruitful and consistent experience beyond that currently offered by traditional call centres or customer service centres. It is about so much more than cost savings for business.

Knowledge is power

For businesses, the opportunity to capture, distil and centralise customer engagement experiences, presents the opportunity to turn the softer side of relationship management into a tangible asset that improves margin, productivity and customer satisfaction simultaneously. This is where the boundaries between traditional AI data acquisition and Generative AI interpretation begin to gel seamlessly. Gen AI will effectively become the intuitive brains of the business which customers can access quickly and efficiently to improve their experiences and add to the central knowledge of a business.

A safer, secure future

Conservative estimates put global revenue loss through fraud and cyber crime at a staggering $40bn per annum. Assuming criminals aren’t going away the challenge will be avoiding turning an exponential growth in cyber activity into a bonanza for criminal activity. Thankfully advanced algorithms in AI technology play a role in identifying and anticipating any unusual activities occurring within the network. Likewise the ability of AI to predict and identify malicious activity almost at the moment it occurs will give providers the chance to act swiftly to protect systems and data.

Filling the skills gap

Whilst the newspapers and broadcast media are full of doom laden stories of the impact AI will have on jobs, the truth of the matter is, for the telecom industry, there is a huge skills and resource gap. Stories abound of the missed opportunities for telecoms providers to sell additional licences or implement next gen omnichannel solutions due to skills gaps and physical lack of ‘bums on seats’. As well impacting on the fortunes of telecom companies and their clients, this also impacts directly on customer experience. Gen AI will inevitably provide the solution to that gap and complete the virtuous cycle of advancement.

Summary

Rarely can a new technology offer such end to end advancement for an industry as a whole. From improved efficiencies through to enhanced customer experience and greater security the advent of the Age of AI promises to deliver a wealth of opportunity. Here at Firstcom Europe we are helping to lead this revolution, working with partners across the whole spectrum of supply and development to provide a joined up solution for clients and their customers.