The role of Telecom Service Providers (TSPs) has undergone a profound transformation over the past couple of decades. The transition from being a traditional voice and data provider to a dynamic Digital Service Provider (DSP) has been inevitable, driven by the growing demand for seamless connectivity, personalised experiences and innovative digital solutions that cater to the diverse needs of modern consumers and enterprises.
Today, telcos are no longer just communication enablers; they now shape the infrastructure of our hyperconnected world by leveraging advanced technologies such as the cloud, the Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML). This evolution from telco-to-techco comes with challenges but holds significant promise for business expansion and revenue optimisation. According to Accenture, telcos could unlock at least USD 700 billion in new revenue through this tech transformation.
TELCOS' TRANSFORMATION JOURNEY
The rapid pace of technological advancement has dramatically reshaped industries over the past few decades. The proliferation of smartphones and high-speed mobile networks has ushered in a new era of connectivity, significantly increasing reliance on digital solutions. This growing dependence has naturally elevated consumer expectations from telecom service providers. Today, customers demand more than just reliable connectivity; they seek innovative digital solutions.
To evolve into a techco, telcos must embody four key characteristics: client centricity, digital experience, automation, and data utilisation, according to KPMG. This approach requires a radical shift from the traditional modus operandi. Telcos that adopt these traits are more likely to thrive in the Digital Service Provider (DSP) journey and maintain a competitive edge in the evolving telecommunications landscape.
This story is from the October 2024 edition of Voice and Data.
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This story is from the October 2024 edition of Voice and Data.
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