Dialing Into AI in 2020: Why Investing Now is Key
Artificial intelligence (AI) has crested through its buzzword status into a reliable solution integral to most of our daily tasks. From predictive text suggestions made in your morning emails, to the ads Instagram pushes as you scroll through your feed before bed, AI algorithms and insights are mapping our next move through every moment of the day.
Here at ElectrifAi, we’re well aware the technology has far from peaked in its potential to change the way we interact with our world. Autonomous vehicles, robot performed surgeries, even understanding human sentiment is not far around the corner from entering our day to day.
Where will this technology make the biggest impact? Telecoms.
It should come as no surprise to generations that brought Nomophobia (anxiety due to the fear of not having access to a mobile phone) to the world, that the biggest potential for this technology will be in the telecommunications industry. The telecom industry is expected to invest $36.7 billion annually in AI software, hardware, and services by 2025, according to Tractica, as a direct result of today’s market pressures to future-proof operations with AI.
In an industry reliant on the transfer of information (data quite literally growing by the minute), AI will be the linchpin for its future success. As companies look towards managing a record number of mobile users and the potential that AI will unlock for the user experience in your hand, it’s clear this technology is the way forward.
AI driving the network and consumer experience
We’re living in a world with more mobile users than ever before. Today, there are over 257 million smartphones in the US alone and as many as 3.2 billion globally. Those devices are more than simply a communication tool. Rather, they are a powerful gateway to a healthier, more productive, more entertained lifestyle. And as such, more people have come to rely on their phones as indispensable tools for moving their important life activities on net. But consumers are not all the same. And, as consumers move more of their personal and professional life activities on net, they are demanding flexibility and innovation from their carriers as well.
Gone will be the days where one plan fits all. Consumers expect their carriers to understand who they are and to cater to their needs. AI will provide critical insights to carriers about the specific needs of consumers, enabling carriers to offer bespoke plans and to provision those quickly and cost effectively across their 5G networks.
We already see AI playing an important role in the call center with the ability to detect sentiment through the use of NLP or natural language processing. For carriers, churn is one of the most important metrics. Being able to detect sentiment among your most highly valued customers in the most important customer service moment is a critical success factor. Carriers need to know what power users or valuable business customers are unhappy instantly so as to respond in the moment and avoid churn.
The gateway to a healthier, more productive, more entertained lifestyle
For users, it’s about getting what they want and when they need it. Providing a seamless customer experience is top priority for carriers.
By understanding who your target audience is – technologies such as AI are enabling such insights and delivering practical solutions. Imagine getting the right information to upgrade your plan based on your travel schedule.
What used to be considered a communication device is now the gateway to what I believe a healthier, more productive and more entertained lifestyle. With AI, carriers can get the right insights to provide users with information about their health, productivity and what truly matters to them.
AI in the Palm of Your Hand
Apple’s $200 million acquisition of Xnor.ai, a Seattle startup specializing in low-power, edge-based artificial intelligence tools, is the most recent of many investments across the industry to indicate AI will be critical to the next generation of mobile devices.
While AI integration into mobile has infinite use cases, one of the driving factors for integration is AI in photo and video. Image recognition software will be pivotal, especially as the emergence of augmented reality solutions open up an entirely new market for both enterprises and consumers. The opportunities are boundless: from training employees in high risk environments, identifying cancerous moles, to fighting off Sith enemies, the technology will enable us to look at our world through an entirely different lens.
We’ve long been told we’re on the brink of the next generation of technology, but it’s clear we’ve pushed into a new frontier. As a mobile-first society, we’ll look towards the telecommunications industry to lead the charge as AI takes hold to improve the way we work and interact.