The post Telecoms in 2024: Pioneering Trends Transforming the Industry appeared on BitcoinEthereumNews.com.

The telecom industry, a cornerstone of modern communication, is undergoing a transformative phase in 2024. Driven by technological innovations and evolving market demands, the industry adopts new strategies and tools to stay ahead.  Generative AI revolutionizes customer care At the forefront of telecom innovation in 2024 is the application of Generative AI (GenAI) in customer service. Telecom companies increasingly utilize AI to enhance customer interactions, addressing a significant pain point in the industry: inefficient customer care. The typical scenario in telecom customer service involves long wait times and low first-call resolution rates, leading to customer dissatisfaction. By integrating GenAI, telecom companies aim to improve the quality and efficiency of their customer service. GenAI is a co-pilot to customer care agents, providing them with real-time data and insights. This synergy between AI and human agents is not about replacing human interaction but enhancing it. The goal is to increase the resolution of customer queries on the first call and reduce the overall waiting time, thereby boosting customer satisfaction. Digital operators: The new growth vanguard Another notable trend is the rise of digital operators. Telecoms are shifting from traditional models to digital operator strategies, broadening their service offerings beyond mere connectivity. This change is a response to the stagnation in growth rates experienced by the industry over the past few years. Companies like VEON Group and Orange are leading this charge, transforming their operations and achieving impressive growth. VEON has transitioned from a conventional telecom operator to a digital operator, with its subsidiaries experiencing double-digit growth. Orange’s launch of the super-app ‘Max it’ in the Middle East and Africa, combining mobile banking and a content marketplace, exemplifies this strategic pivot. These examples underscore a broader industry trend where telecom companies are diversifying their services, targeting new revenue streams in digital content, mobile…

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Filed under: News - @ December 7, 2023 7:22 am