Technology Trends that are Changing the Facets of Telecom Industry

Telecom Tech Outlook | Saturday, December 26, 2020

Innovative advances in telecommunications technology would inevitably disrupt current business models, create new revenue opportunities, and improve customer loyalty. Telecom companies should also keep their finger on the pulse, track the latest developments in technology, and act on them to stay ahead of the competition.

Fremont, CA: Given the hyperconnected age, demanding competition, and increasing consumer preferences, it is no secret that the next developments in telecommunications technology have now become a mandate. Here are four developments in technology that will help telecommunications companies grow their revenue sources and succeed and survive in this era:

Robotic Process Automation

Robotic process automation (RPA) will enable telecommunications companies to reduce operating costs, bring efficiency and accuracy to their operations, and enhance the overall customer experience. Driven by AI, software robots have now reached a degree of complexity where they can feel, interpret, and understand any given situation. Whether it is e-mail correspondence, filing, data distribution, invoice processing, or other back-office activities, RPA can perform all of these tasks effectively and precisely.

Big Data Analytics

Telecom firms are trying to increase their bottom line and improve customer loyalty like never before. The hyperlinked age has made the situation worse for these businesses. However, big data will help these telecommunications firms deal with their problems. Telecom companies may collect customer service call logs, social media chatter, network traffic to understand customer sentiment and purpose. The information obtained from analyzing big data can then be used to respond as quickly as possible. With big data analytics, the marketing divisions will change their campaigns, thereby enhancing the customer experience while also making more money.

Blockchain

Blockchain could resolve any dispute and trust issues relating to the transparency of activities. The decentralized, immutable, and tamper-free attributes of blockchain embed confidence in any use case it provides. Consequently, friction-free transactions and company processes can be carried out by a variety of primary stakeholders. When telecommunications firms continue to grapple with fraud and hackers, blockchain can become an essential solution to these problems.

Chatbots

Major telecommunications firms are struggling with a vast consumer base. Managing and servicing such a broad user base is not a simple job, for obvious reasons. Telecom companies also need to maintain 24-hour support services. Impatient consumers want telecommunications firms to solve their issues and problems as soon as possible. In this sense, chatbots can be of great help to these telecommunications companies.

Chatbots, also considered to be one of the best knowledge acquisition tools, can provide 24*7 support services to customers. Any doubt, any additional assistance needed, chatbots can easily handle any demand without human intervention. Since they don't feel exhausted and don't need rest, chatbots will provide customers with uninterrupted service. Chatbots can also encourage cost savings.