Artificial Intelligence (AI) is no longer considered an “emerging” technology as it is widely used across a variety of industries. May it be the banking and financial sector, industrial sector, the educational, the telecommunications sector, AI is being applied at an increasing rate, allowing businesses to improve the user experience (UX) for their customers.
In this article, we focus on how artificial intelligence has stepped up in the telecom industry and how current and future businesses can improve their efficiency and competitiveness with AI.
What is the hype all about?
Enterprises around the world are investing heavily in AI with the market predicted to reach $191 billion by 2025. With the global pandemic transforming the way we do business; companies are opting for more digital solutions and we can only expect this number to rise.
Artificial Intelligence is all about the ability to provide intelligence via a programming algorithm to perform a specific task and has been already implemented by tech giants such as Apple, Amazon and even Tesla with applications such as Siri, Alexa and Tesla’s autonomous driving capabilities.
With AI both, the business and its customers can benefit greatly. Businesses, by being able to deliver the right product to the right customer and the customer to perform a task that has already been pre-defined or programmed. Let us focus on this in a bit more detail …
AI and Telecom
We are all well past the use of the traditional landline phone and over-the-counter functions for customer to complete specific tasks. The telecom industry is now at the epicenter of technological growth and is expected to grow by more than 42%. The cause of this growth? Artificial Intelligence.
How do telco’s benefit from AI?
With the constant development in technologies for connectivity such as 5G, communication service providers (CSPs) are facing the imminent pressure of increased demand for enhanced quality in service and futuristic customer experiences (CX’s).
The two key benefits businesses in this industry can look forward to is savings and improved efficiency. Yes, the initial investment of AI technology is immense, but only CSPs who look to the future and make such investment will survive and thrive.
CSPs in the market now face the problem of processing the large volume of customer data that has been collected over the years and to help speed up the analysis process of “Big Data”. Telcos are now using AI to extract customer insights, digging deep into the exact needs and wants of the customers resulting in improved quality of service and connectivity. With Gartner predicting that over 20.4 billion devices will be connected worldwide by the end of 2020, CSPs around the world need to get with the latest in AI and technology in order to compete effectively.
How ADL used AI to develop a Fraud Detection System
A simple real-world example of how the engineers at ADL used AI is the “Mobile Money Fraud Detection” case where our client, a leading telecommunications provider in Sri Lanka, required a system to assist in identifying fraudulent transactions that took place via their digital payment application.
To address the complex problem, we delivered a system powered by AI and Machine Learning (ML) that is capable of detecting suspicious transaction records (STR) and blocking the user’s digital wallets. The AI and ML powered system offers our client features such as:
- STR (Suspicious Transaction Records)
- Transaction Investigations
- Customer and agent risk profile
- Multiple investigation methods via Link Analysis (Path detection and ring detection)
- Integrated reports
Furthermore, the technicians and engineers #atthelab took it a step further by implementing AI to design and develop the ‘Digital Twin’ – an AI powered interface that offer users a unique experience when using ADL products such as Oscillate – a AI generated analytical system, measuring a customers experience.
Is AI the future?
Artificial Intelligence is key for two things: being extremely useful and causing a significant balance in the business’ books. The telecom industry has already begun to use AI technology for network automation and personalizing customer offers, are yet to be used to their full potential.
So, is AI the future? AI will be a part of the future, however with the current rate of technological developments, the future holds a lot more potential for not only the telecommunications industry, but all industries.
Stay updated with the latest news and trends in the world of telecommunication and technology with the tech blog #atthelab