Telecom Trends and Impacts to Businesses
There is a new jargon, buzzword, and other perplexing terms that arise every year. Telecommunications is one of the industries that amp up our lives. As a major contributor to how we connect today, telecom companies constantly seize new technologies to offer better services.
Here are the top trends in telecommunications today.
Blockchain in Telecommunications
Blockchain technology is disrupting various industries aside from its famous use case, cryptocurrency. The inherent features of blockchain–trust, immutability, provenance, and anonymity–are sheer benefits for telecom companies dealing with increasing quantities of transactions. This is a win-win for both the wholesale carrier and us, consumers. Wholesale carriers can leverage blockchain by extending automation and tracing transactions from point to point. Blockchain also guarantees sensitive data won’t be manipulated and exposed through hashing and encryption. Consumers can expect stronger security and impeccable service.
5G combines cutting-edge and high specifications technologies. It offers faster and more reliable connections. The adoption of 5G began in 2019 and leading telecom companies are investing heavily in it so you can anticipate that 1 Gbps download becomes a norm soon. Expect low latency, enabled network slicing, and improved data rates. Your cellular network experience–at work or home–will be substantially faster, which causes video buffering less likely to happen. This shift also affects loading times of websites, which favors you and the web visitor.
Artificial intelligence has a multitude of uses. You can make use of chatbots and virtual assistants to improve customer service and satisfaction. AI can help widen your reach and accommodate customer demands with no sweat. If you’re into data, AI derives insights that can be useful for refining processes and communication. AI also enables service providers to automatically optimize the network based on traffic information by region and time zone. It looks for patterns within data to detect anomalies and proactively fix issues.
Internet of Things (IoT)
IoT improves business processes and enables the communication between people and devices. You can use IoT sensors to acquire large volumes of data. Businesses leverage IoT to generate analytics and gain crucial insights. These insights help you understand customer patterns that can be used for improving lead generation approach. Combining IoT and big data builds predictive models that provide information on upcoming trends. Security is another advantage of IoT. Disasters such as fire, earthquake, and human error can happen unprecedentedly. When such incidents occur, you can leverage IoT to monitor sites and receive notifications in case of emergencies.
Telecom companies are shifting to a more secure environment. As technologies emerge, methods of hacking and phishing are also evolving. Half of the world population uses smartphones and this has been a main source of data. Data from these devices and sites can be misused and passed onto someone. Biometric fingerprints, facial recognition, and voice recognition are likely to pick up steam in the coming years. An increasing number of telecoms are adopting e-sim cards and biometrics for curbing data embezzlement. You can expect data transmitted to companies is anonymized and encrypted that only people with public and private keys can decode the information.
What do these mean to you?
Rapid innovation is continuously rising every year. Migrating to modern technologies from legacy systems helps you stay at the top of your game. It will support any future changes and scale as your processes transform. Customer demands and data will largely take part in pressuring businesses to ramp up their products and services in the following years and beyond. Establishing a proactive approach allows you to level with customer demands and thrive in a competitive industry.
You can utilize state-of-the-art technologies for enhanced collaboration, trust, and security. The first step is to examine the readiness of your organization and employees. Understand how they respond to changes by conducting interviews and research. Go over different reinforcement techniques to urge your colleagues to accept technological advancements and understand the need for change. Train them once everyone has agreed to terms and performance measures have been laid out.