Latest Insights About the Role of Connectivity For Telcos
Whether you were present at our latest webinar “Unlock the Future: Connectivity in a Changing World” hosted by European-Ukrainian Hub, or will catch up via this recap, we are thrilled to share the insights.
It was a fantastic 1-hour event where Iryna Manukovska, Anna Tyschenko, Lesia Kasian of JEVERA, and Viktor Kmita of XME.digital shared their knowledge and experience on cybersecurity, big data analysis, and AI use cases in telecommunications.
Want some more details? Read on as we start.
Cyberattacks as a Foundation of Cybersecurity Strategies
The full-scale Russian invasion showed the importance of proper cyber security measures. Despite ground attacks, the enemy attempted numerous cyber-attacks, and the number increased to 250%. Government institutions were the first to get hit, followed by regional critical infrastructure. In 2022, the number of Russia’s cyber assaults mounted up to 1,2 million compared with 900,000 in 2021.
Yes, the numbers are insane, yet Ukrainian IT specialists are called one of the best in the world, not in vain. In comparison to 2015, the response time for activities has decreased from 360 minutes to zero in 2022.
Telcos were a part of the attacks, so the benefits of improving their cybersecurity are obvious. A complicated security system equals:
Customer trust and satisfaction
Minimising financial risks
Threat prevention
Increased operational efficiency
Emerging Revenue Models for 2024
Turn an expense into a profit. Telecom operators may transform the 5G network rollout from a standard expenditure into a source of revenue. This method offers improved connections in shared locations, such as offices and restaurants, as well as new revenue streams.
Micro network operators. Managing own 5G networks presents business perspectives for organisations. This approach might result in more effective operations and cost savings for telecom companies.
Business development as a service. Consumer insights are valuable as they make third-party services and products more accessible. For instance, a subscription to SaaS may generate additional income streams.
Innovation in home & industrial IoT. This year's trends also included advancements in home and industrial IoT. The focus will be on the seamless integration of smart devices. With network equipment becoming app-enabled and interoperable, organisations can resell services from diverse sectors.
Customers Continue Driving Telecommunications in 2024 and Beyond
The customer experience will be the forever trend, as it’s the source of income and inspiration for new ideas. The importance of digital transformation can’t be omitted, as it is the basis for introducing new services to customers.
High-quality infrastructure and optimised networks are crucial to achieve higher customer satisfaction. To reach the goal, telcos invest in 5G and edge computing.
Despite all the results of modernising the infrastructure and investing in the newest technologies, businesses should keep in mind that current processes they have can affect the entire success of any innovation implemented.
Artificial Intelligence & Telecommunications
AI takes a significant part in technological progress. The extreme popularity of the technology leads to uplift in investment and revenue. For example, the global AI market size will reach USD 2810.29 million by 2028.
The AI telecom market is a base for propelling forward 5G advancements and AI-powered customer service solutions.
AI’s capacity to maximise resources, ensure sustainability and compliance, and encourage cross-industry collaborations to create smarter cities. Furthermore, AI’s influence on decision-making and automation promises higher efficiency and profitability. That, as a result, will indicate a substantial transition toward adaptive, self-optimising online operations in the telecom industry.
Summary
We hope our short recap gave a bit of the excitement that we felt during this enthralling event. The webinar highlighted the important aspects of global telcos development you should also keep in mind when building your business strategies for 2024.
Need some more details? Contact us to explore what software development trends your telecom business should follow to get ahead of the game this year.