Podcast Audio Transcript
Mimi: Hello listeners, this is Mimi; thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. Today, we are discussing about the influence of AI on telecom industry. And to talk about this, we have here with us, Mehul Sanghavi, Sales Head - Telecom. Welcome Mehul. How are you?
Mehul: I’m doing very well, Mimi. It is an honor to be back in this podcast.
Mimi: We’re always on the lookout for your insights.
To start the discussion, we know how powerful AI can be across a variety of industries. We have seen its influence across areas like predictive analytics and customer experience.
Can you provide us a brief overview of the influence of AI on the telecom industry?
Mehul: Mimi, the role of AI in the telecom industry is transformative, revolutionizing various aspects of the telecommunications landscape. Let me share few aspects where I believe AI can bring significant changes:
Firstly, predictive analytics and network optimization: You would want your telecom provider to give you consistent and reliable connection, right? AI helps them analyze vast amounts of data to tell various things. This includes forecasting network traffic, predicting equipment failures, and optimizing network performance. This proactive approach ensures efficient and reliable connectivity to all customers.
Secondly, AI enhances customer experience through personalization: AI-driven personalization is reshaping customer interactions in telecom. Many telecom providers have started leveraging power of AI by bringing it in the edge of their network to recommend tailored service plans or to provide customized promotions. AI is helping telecom providers understands individual preferences and therefore enhancing customer satisfaction and loyalty.
Another area is revenue assurance and fraud detection: AI plays a crucial role in revenue assurance by detecting irregularities, preventing fraud, and optimizing pricing strategies. This ensures that telecom companies can maintain profitability while providing reliable services.
You know, virtual assistants powered by AI are being deployed in customer support, offering efficient and personalized assistance. These virtual agents can understand natural language queries, providing a seamless customer service experience.
AI is also utilized in marketing strategies to analyze consumer behavior, predict trends, and optimize advertising spend. This data-driven approach ensures targeted and effective marketing campaigns.
In addition, AI contributes to enhancing network security by identifying and responding to potential threats in real-time. This proactive approach helps safeguard sensitive data and ensures the integrity of telecom networks.
The integration of AI into the telecom industry improves operational efficiency and enhances the overall customer experience. As technology continues to advance, the telecom sector is likely to witness further innovations driven by the power of artificial intelligence.
Mimi: Yes, as you mention, AI’s influence in telecom is such a deep one. Especially that automated customer support chatbots which have become so accurate these days.
As the telecom industry itself is facing new revenue challenges, like the inception of web-based communication applications, how is AI effective in revenue assurance?
Mehul: That’s definitely an important point, Mimi. AI is a game-changer in telecom revenue assurance. It helps detect and prevent fraud by analyzing patterns in real-time, adapting to evolving fraud scenarios.
Automation powered by AI ensures billing accuracy, reducing errors, and improving efficiency. By deeply analyzing customer behavior, AI can spot revenue opportunities and potential leakage points.
Predictive maintenance models can anticipate network issues, thus preventing disruptions. So, you can see how AI can be very useful in preventing revenue leakage. AI also predicts customer churn, enabling telecom companies to initiate proactive retention strategies.
Mimi: It’s great you mentioned customer churn. That was an area I was about to mention. Reports suggest that new customer acquisition cost is up to 5 times the retention of existing customers in telecom.
In this case, how is AI useful in retaining telecom customers?
Mehul: Yes, it’s an important observation, Mimi. AI can be a game-changer in predicting and preventing churn as I mentioned previously. One key aspect is the analysis of customer data to identify patterns and behaviors indicative of potential churn. Machine learning models can sift through big data, considering factors such as usage patterns, customer interactions, and satisfaction levels. This gives us early warning indicators. AI helps telecom companies anticipate which customers are at risk of churning.
AI-driven churn prediction allows for the implementation of targeted retention strategies. These strategies can be personalized based on individual customer needs and preferences, addressing specific pain points that might be contributing to the decision to leave. For example, AI can identify customers who are likely to be enticed by special offers, discounts, or tailored services, enabling telecom providers to proactively reach out and incentivize them to stay.
AI can be also useful in the monitoring of customer feedback from various channels, such as social media, customer service interactions, and surveys, AI can gauge overall satisfaction and identify potential dissatisfaction early on.
Mimi: It’s such an interesting thing to see how AI is progressively shaping our industries, Mehul. Telecom is one area which, I believe, can take full advantage of this. I feel that your insights have been quite valuable to our audience. Thank you so much for your time in today’s podcast.
Mehul: It’s always a pleasure, Mimi – Thank you.
Mimi: Dear listeners, if you enjoyed our podcast today, please don’t forget to share and like it on social media. Our social handles are mentioned in the podcast page. The podcast will be available on various platforms like Google Podcasts and Spotify, in addition to our website.
Also, if you have any queries, do reach out to us through the email address on the podcast description. Watch this space for more exciting podcasts coming up. Once again, thank you for tuning in, stay safe and stay sharp. Have a nice day!
