What do telecoms stand to gain from AI and Data Science
The ascent of artificial intelligence within telecom is in its nascent phase, but in conjunction with Data Science, AI applications have already made it possible for Telecoms to enhance the quality of their service, and identify fresh profitable opportunities.
With the integration of AI-based software and Data Analytics, Telecom enterprises can enhance their service and become a ton more profitable. Whether a majority of the verticals will be impacted, or even disrupted by the swift ascent of AI is no more debateable. Telecom is no exception to this rule.
According to Markets and Markets, the international market for AI software in the Telecom domain will appreciated to approximately $2.5 billion from a modest $235.7 million in 2016.
Surprisingly, the proliferation of AI and Data Science will facilitate telecoms to not just make an investment and accomplish improved performance, but, also to profit additionally, making the Data Science and AI transformation pay its way, at the very least, partially. Telecom operators will be able to develop extra, meaningful revenue streams for themselves by tapping into the business niches they have not prior imagined could be profitable.
Let’s take a deeper look at the three primary potential areas of interest for Telecom businesses within the AI space – enhanced performance, enhanced profitability of their service offering, and extra profitability and attempt to identify the more promising uses of AI and Data Science in the Telecom sector.
Leveraging AI and Data Science to enhance network performance, reliability, and security
A lot like a majority of sizable enterprises, Telecoms have always had sufficient issues to handle. Some of these issues have proven really resilient to any traditional means, and obviously, need an utterly innovative strategy to be disposed of. A plethora of recurring issues, which can possibly, crop up any minute, require to me monitored for and expeditiously identified and rectified if they actually happen. This is the precise reason why AI’s intro into the Telecom domain is underpinned by the concept of what one refer to as a “self-serving” (and, more particularly, self-regulating, self-healing, and self-protecting) network.
Can we expect the current-day and near-future AI to have the capability of making this idea an actuality?
To respond to this question, we’ll examine some of the uses of Artificial Intelligence within telecom that are becoming the key force underlying the telecom sector’s AI-based paradigm shift. These uses of Artificial Intelligence in Telecom prove that the tech has already matured adequately to be an actual game-changer.
With AI integration, your network will be capable of responding automatically to any considerable overload the may come up. It will become feasible for the network to identify an overload, develop automatically the number of virtual machines, needed to manage the incoming amount of traffic, and funnel the excessive traffic through these virtual machines, promptly, and with no human involvement.
2.Optimization of service quality by forecasting future network usage
The AI technology of ML can assist you in optimizing your service quality. You can leverage Machine Learning to forecast how the leveraging of your network will demonstrate variance across the differing geographies it covers during a particular time period. It can be feasible to factor in an array of criteria to accomplish improved optimization outcomes, which includes time zone, hour, weather, national or regional holidays, and more.
3.Performing Predictive Maintenance
With no Artificial Intelligence, you can hardly, if ever predict a hardware-connected network problem, until it, actually emerges to impact, or at times, even disrupt your routine operations.
Machine learning is now turning the tables on you by providing you the capacity to identify several alarming network signals (for instance, those emitted by cell towers or powerlines), which might be a precursor of a forthcoming network failure. Essentially, Artificial Intelligence can take the robustness and reliability of your network to a totally new level.
4.Preventing Malicious Actions
Machine learning can be depended upon to safeguard your network from malicious activities, for instance, DDoS attacks. With machine learning, your network can be trained to detect a big number of similar requests, flooding it at the same time, and make a decision on if to deny those requests unilaterally, or shunt them to each other, less busy data centre to be dealt with manually by your staff members.
Enhancing the probability of a telecom organization’s service offering
All apps can assist you in both personalizing your service offering and client journey, and accomplish improved client satisfaction and profitability owing to this personalization.
There are just several diverse use cases of AI connected with the above, and we will discuss several of them.
1.Better client targeting and personalized upselling
The capabilities of artificial intelligence and data analytics can be brought together to assist you in gaining an improved insight into your subscriber’s preferences and provide them much improved, and customized service packages, while also doing so at the time they would most probably order.
Machine Learning (and specifically, Natural Language Understanding, Image Recognition, and Video Processing) algorithms can detect the several variants of content, consumed by the subscriber during a lengthy duration of time, draw inferences with regards to their preferences, and find similar content that you’ll be able to provide. Further ML and Data Analytics will be feasible to put forth your subscriber with this bespoke offer when they’re probably likely to be having extra funding, and therefore more likely to purchase. The latter will be decided on the basis of the subscriber’s purchase history.
AI-driven predictive modelling makes it feasible to undertake analysis of several thousand diverse indicators (Web, Device, Service, Value, Billing, Technical Stream, Social Data) for all of your subscribers in order to forecast their future behaviour. This, in turn, can facilitate one to compose more efficient, tailored offers for both entire client segments and individual clients.
A lot like how AI software can assist you in selling better, it can additionally assist you in upselling better. As new services are put out, you will be aware of which of your subscribers should be gotten in touch with first with your new service offering.
And obviously, both your Client Targeting and Upselling can be provided a huge boost through Chat Bots. These AI apps can become ideal performers to further act on your analytical findings.
2.Raising Profitability and Enhancing Client Service with Chat Bots
For some reason, from the top of people’s heads, when they think about AI in Telecom, is the ever more widespread forms of intelligence, referred to as chatbots, or virtual assistants. Chatbots can enhance, scale up, or even internationalize your client service. They can enhance one’s client satisfaction through the furnishing of a swifter response time and client support in languages that would, otherwise, not be feasible. However, enhanced client satisfaction is not the biggest boon a Telecom can be given by chat bots.
Owing to the ML-driven capacity to furnish a much wider range of qualified tips and the NLP-enabled gift of speaking in tongues, the more sophisticated chat bots can become really sharp sellers. Usually, they can easily outpace human client service reps, which in good time, will translate into extra earnings for your Telecom business.
3.Providing Voice-Managed Services
Combined with the capacity to leverage chat bots, AI provides you the capacity to introduce voice-managed services. Your clients will be able to buy media content, or book a service by just placing a voice request, rather than needing to contact your client service in writing each time they require something.
4.Forecasting your client’s media content preferences
With the help of Artificial Intelligence, you are uniquely facilitated to forecast your client’s likes, dislikes, and the associated demand even before when they order something from you.
A Machine Learning capacity can undertake the analysis of the content, recorded by your customers in the cloud, and come up with recommendations on what can be provided to every specific customer. AI software can also form a tailored offer the client will be familiarize with automatically.
Monetizing the extra opportunities Artificial Intelligence and Data Analytics open up in Telecom
While making it feasible to better safeguard your network and optimize your performance, Data Analytics and AI can open up completely new revenue streams for your telecom organization.
These avenues can be referred to as “sidelines” and they can be adopted by Telecoms in order to diversify and hike up their earnings. Odd as it might appear, these avenues are in no way connected with one’s freshly acquired ability to accomplish cost savings via network optimization or improved client service.
Any non-startup telecom provider has accumulated massive amounts of data that can tell quite a lot with regards to their customer’s preferences, spending habits and preferences, places of interest, routes taken, and more.
Wherever allowed by the State and local legislation, this data (even though, typically, anonymized), can be shared with those, who need it to better market their products or services.
Data Analytics and AI can easily assist you in monetizing these opportunities very profitably. Further, the nature of the insights you can obtain as a Telecom firm, and the scale on which this data can be furnished by a Telecommunications company, both make Telecoms unique purveyors of Marketing insights for an array of other enterprises. How precisely can this be done?
Let’s get into the specifics.
Providing Marketing Guidance to Retailers and Food Chains
As a Telecom provider, you can observe how many of your smartphone users are identified in an urban region at a particular hour and on a specific day of the week. You can decide their financial standing, and in the scenario of more complex, AI-driven analysis, even, a number of their likes and dislikes. This data can be crucial to those retail and food chains that are at sea about where precisely their new outlets should be setup for them to have adequate clients.
Likewise, you can additionally sell this data to small business entrepreneurs, seeking to establish pizza parlours, food stores, and other similar businesses.
Furnishing Guidance to City Authorities
As many urban regions experience congestions and are more and more plagued by traffic jams, there is a pressing requirement for software systems that would facilitate improved traffic administration. Usually, “better”, incidentally, implies the capacity to obtain data in the online mode and respond fast.
As you will have likely made the guess, this can all be carried out with the assistance of a mobile Telecom provider, covering the area. With this type of assistance, it can be feasible to forecast and alleviate (or, even, pre-empt), a forthcoming congestion of persons and/or automobiles.
Another feasible usage of Artificial Intelligence could be the optimization of urban planning and public transportation. As a telecom provider, you can assist city authorities in locating public and administrative offices so, that this will relieve congestion and stagger high traffic levels.
You can additionally assist in optimization of the routes of public transport.
Furnishing Guidance to Banks and other Lenders
Unless restricted legally, and most likely, only with the written permission of your client, it is feasible to make Telecom data analytics part of a credit scoring procedure. You can assist a lender factor in these indicators, as, for instance, the client’s cumulative financial standing, the time periods during which the client’s account has stayed empty over the previous year, or the existence of the bank’s defaulting clients among those, the client communicates with on an ongoing basis.
Employing Artificial Intelligence and Data Science in the pursuit of diversifying your service offering can develop massive opportunities for your telecom entity. Taking into consideration the number of brands from the differing industries you can cooperate with at the same time, the extra income avenues you can uncover might be worth more than the bother. We are also expecting this to be the scenario when it comes to a person’s cooperation with banking institutions and other lenders, seeking to enhance their credit scoring precision.
The capacity to support major urban traffic management initiatives can assist you in acquiring a great reputation with the city and other personnel and establish your organization as a socially responsible service provider with a favourable image in the public domain.
Providing Marketing Data to Airlines
Your artificial intelligence and data analytics software can enable you to turn a profit by furnishing marketing insights to airlines.
This can, actually, function in various ways.
With the help of your Data Analytics providers and AI companies, you can assist your airline clients detect those of their routes and flights, which are taken by the more affluent or the more finance-strapped parts of their clientele, so they can adapt their pricing accordingly.
Identification of routes, consistently taken by a major number of the same passengers can prompt an airline for which of their destination more flights might be required to be introduced.
Facilitating Efficient Marketing Campaigns
Unless restricted by the legal system and when synced with the legalities to be observed (for instance, with the client’s written consent only), you can additionally leverage your client data to assist retailers with their SMS campaigns.
For instance, it could be much simpler for a jewelry retailer to sell a few of their luxury items to an audience that is in adequate financial standing according to your indicators, than only spend time, effort, and money on attempting to market them arbitrarily.
AI-enabled profitable opportunities in the Telecom domain are several, and the above instances demonstrate just a few of those, you can profit from with the assistance of AI applications and data analytics. All you are required to do is approach a proficient AI development organization and ensure that your leveraging of client data is legal and in keeping with all the relevant global regulations.