Telecommunications in 2024 are in the midst of a groundbreaking transformation, driven by innovative trends that are reshaping the industry’s landscape. Here’s a glimpse into the pioneering trends driving this evolution:
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1. GenAI Revolutionizes Customer Care
In a bid to revolutionize customer service, the telecom sector has embraced Generative AI (GenAI). This groundbreaking application of AI in customer care aims to streamline interactions, addressing the inefficiencies that have plagued the industry. GenAI acts as a supportive tool for customer care agents, empowering them with real-time data and insights. By enhancing human interactions with AI-driven insights, telecom companies strive to resolve customer queries faster, elevating satisfaction levels.
2. Digital Operators: The Vanguard of Growth
The emergence of digital operators marks a notable trend in the industry’s evolution. Telecom firms are shifting gears, transitioning from conventional models to digital strategies. This strategic shift expands their service portfolios beyond mere connectivity, seeking growth avenues amidst industry stagnation. Visionary companies like VEON Group and Orange are leading this charge, diversifying services into digital realms. VEON’s transition to a digital operator and Orange’s ‘Max it’ super-app in the Middle East and Africa epitomize this strategic pivot, integrating mobile banking with a content marketplace.
3. Embracing APIs for Enhanced Integration
The telecom revolution embraces open systems and APIs, moving away from complex Enterprise Service Buses (ESBs). The industry is now adopting a decentralized approach, leveraging API Hubs. This shift facilitates flexible, scalable, and cost-effective integration of systems and services. API Hubs empower telecoms to efficiently manage their BSS API ecosystem, ensuring smoother integration with partners and expediting the deployment of new services.
4. Surge of No/Low Code BSS
Telecoms are witnessing a surge in adopting no/low code platforms within their Business Support Systems (BSS). This transition responds to the need for agility in launching services and adapting to market dynamics. Traditional BSS configurations, involving extensive coding, are being replaced by agile, no/low code solutions. This shift aligns with telecoms exploring 5G SA networks and novel business models. The no/low code approach empowers telecoms to swiftly roll out new offerings, staying competitive in the ever-evolving digital landscape.
The telecom industry’s trajectory in 2024 is marked by these transformative trends, paving the way for a more dynamic, integrated, and customer-centric future.