The evolution of 5G network technology provides a new revenue opportunity for the global economy, regardless of the industry. 5G will not only affect the telecom industry; it is expected to radically transform business and industrial processes in a range of sectors by enabling the adoption of new technologies and services.
86% of companies predict Artificial Intelligence (AI) to be mainstream technology at their companies.
AI takes the organisations one step ahead the competition by changing their way of doing business. It helps organizations to boost revenues, lower their costs and uncover new opportunities via generation of new insights.
IDC predicts that 65% of global gross domestic product (GDP) will be digitalized by 2022. In addition, global investments in digital transformation (DX) are expected to exceed $6.8 trillion over the 2020–2023 period.
IDC predicts that 65% of global GDP digitalized by 2022 and will drive over $6.8 trillion of direct DX investments for 2020–2023 globally.
Companies that have successfully transformed themselves fully into digital enterprises realize twice the revenue and operating profits when compared with those that have not transformed yet.
77% of CSP’s plan to run at least one system in the cloud this year. The Telecom industry has been talking about the shift to the cloud for over 5 years. Operators need for applications to be cloud-native to get the most out of the transition to the cloud and customer-facing operations are a good starting. In our TM Forum joint webinar, we are looking at some challenges and approaches being taken during CX transitions.
Vertical diversification will be the key to 5G success for CSPs
The arrival of 5G represents a significant inflection point for the telecoms industry. In recent years, the industry has been marred by financial troubles as communications service providers (CSPs) have faced declining market share at the hands of internet content providers (ICPs) such as Amazon, Facebook, and Apple. Now in grave danger of becoming minority players in their own industry, 5G may be the last chance for CSPs to turn around their misfortunes.