Thank you for Subscribing to Telecom Business Review Weekly Brief
Telecom Business Review | Friday, May 14, 2021
Telecom companies are adopting artificial intelligence to optimize and enhance their operational processes.
FREMONT, CA: Telecom operations are often regarded as the most complex aspects of the business to run, and those that excel in this area are the most successful. A dynamic, simultaneous approach across many business units is essential. Each of these units alone would constitute a giant business to manage.
Recent economic challenges have made investing in new solutions challenging for telcos. The company also needs to offer efficient and effective processes to stay on top of costs while increasing employee and customer retention. Recent advancements in artificial intelligence (AI) that has contributed to simplifying the task by optimizing various functions that are integral to the operation process. Many leading telcos have implemented AI in their field and customer service operations.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
What is the need for deploying AI?
As telcos' operating budgets are divided between operations and service, applying AI can significantly impact their performance. Customer experience and employee experience will be critical investment decisions for operators. AI can enhance operations in the retail sector, where store-of-the-future technologies and tools can help break down the bottlenecks preventing retail from flourishing. For instance, most phone sales in the United States occur in retail settings, with 70 percent of those transactions involving accessories like protective screens, phone cases, and headphones. The customers are left idly waiting during the setup and completion of their phone line. The use of AI can make use of that time in a more effective way. By integrating telcos' online and physical retail functions, analytics can also provide targeted advertisements and offers tailored to the customers in a store at a certain time. This would help resolve the issue of out-of-stock and out-of-accessible devices.
Machine learning and AI can replace much of the guesswork and manual processes most retailers use to forecast staffing needs and schedule them effectively. When properly implemented, these tools can reduce overstaffing and understaffing dramatically. Telcos can forecast retail staffing needs by augmenting internal historical data with demographic, income, and search trend data.
Leaders in telecommunications look beyond reducing the number of calls and messages regarding problems that could be solved or prevented by AI applications. As a company grows, it also wants to maximize its opportunities for upselling. The majority of customer calls are related to billing inquiries, for example. A self-healing billing solution can take several steps, including considering the primary cause of the issue, along with the customer's billing history, lifetime value, and propensity to call. Identifying the propensity of customers to call and the likely impact of their call on revenue and customer lifetime value would be one aspect of such a self-healing solution. The system would also determine which self-healing actions would impact customer lifetime value most. AI with self-healing capabilities could also help troubleshoot wireline device problems, reducing call center demand. It is possible to implement a solution that runs continuous checks on device performance and determines the best action for a particular device based on nearby devices' performance. With these measures, telcos can reduce call volumes drastically, and agents can devote more time to complex, value-added tasks, improving the customer experience.
The field force journey requires telcos to balance customer expectations, employee performance, and external forces beyond their control. Frontline workers and supervisors can benefit from smart AI coaching solutions, as can customers and employees.
AI can help telco operators mitigate challenges, particularly in service operations.Those companies that take advantage of this opportunity and continue to innovate on this path will be more likely to emerge in the long run as the undisputed leaders of the market.
More in News