Just like a wide array of industries that it’s invading, Artificial Intelligence (AI) has made its way through the telecom industry as well. Most telecom operators nowadays are harnessing the power of Machine Learning (ML) and AI to increase the reliability of their networks, enhance customer satisfaction rate, optimize various business processes to earn better revenue and much more.
In the near future, data science would be the major pivot to gain significant competitive advantage. Now, the situation is that any telecom company with an aim to thrive in the next 20 years has to implement AI and integrate ML and its benefits with its current framework. Telecom industry is one of the promising industries speculated to rise in the coming years. It has already started to implement AI, ML, and the Internet of Things (IoT) to improve customer services.
According to an intensive study conducted by the Transparency Market Research (TMR), an impressive 36.1% CAGR is going to be posted between 2016 to 2024 as far as the global market of AI is concerned. The valuation is also estimated to face a rise from US$126.14 billion in 2015 to a whopping $3,061.35 billion by 2024.
In the Asia Pacific region, the telecom market is projected to face 2.06% growth from 2016 to 2020. This statistics is calculated on the basis of massive success in the telecom services in North America, Europe, and Latin America.
In the coming decade, significant transformations are sure to be witnessed in the telecom industry via implementation of ML and AI. Since it is the heart and soul of connectivity across the globe, with the help of advancing technologies, this sector will have the golden opportunity of making huge strides.
The realization of utilizing the untapped potential of new revenue streams has further led to the belief that the enhancement of the telecom industry has the capacity to revolutionize networking in this world.
Over the last century, the evolution of telecommunications has been dramatic. From radio, mobile phones to the internet, we can now connect to anyone in any part of the world without any hassles. The advancement is incredible and it is going to be so for long. This has also given rise to a new form of telecommunications called telco chatbots.
Humanizing Customer Service via Chatbots
Textual and auditory are two main methods by which a chatbot carries out communication. By implementing AI, telecom industries can make their customers feel like they are interacting with a real person instead of a robot. This further humanizes the human conversations. Despite the benefits of the new technology, telecom chatbots and the entire concept is relatively new. This can give the companies an edge over competitors and serve as an advantage.
Improving customer support is one of the most beneficial uses of AI chatbots for the telecom industry. Customers want to gain access to relevant information as quickly as possible. Companies can easily humanize customer service by using telecom chatbots.
When a customer is interacting with a telco chatbot, it feels just like texting a friend. The only difference is that on the other end, there is a friendly chatbot ready to resolve various customer queries.
Telecom Bot For Boosting Your Business
Customers can easily access all kinds of information provided on a company's website with the help of Telecom chatbots. Instead of rummaging through different pages to get the information they desire, customers can directly approach the telco bot and ask their query. It is definitely a far better solution than a customer surfing through the website for an hour only to feel frustrated afterward due to getting nowhere near the information.
Automating customer support
Level 1 customer support involves answering basic queries which can cause wastage of resources that can be utilized in level 2 and 3 customer support. Implementation of bots in automating customer support can free the resources of level 1 tasks such as handling billing, processing of payments and helping out customers in addressing any discrepancies in their chosen plan.
Simplification of Account Management
Customers turn to agents for the clarification of queries like how many minutes they have left for their plan, what is the amount of data they are left with, etc. To meet the SLAs with users, telecom companies need to analyze the overall utilization of network and error rates.
Improving IVR interactions
Customers having to go through multiple IVR interaction before their query is resolved is a common phenomenon. In situations where a request is simple or they are in a hurry, this can get a little frustrating. The integration of the IVR system with chatbots can humanize the entire experience for customers. Customers can simply interact with the IVR and seek redressal of their query instead of having to navigate through DTMF rules or menus.
Optimizing Field Operations
Irate customers often call in to inquire about the field service technicians' whereabouts. The lack of up-to-date information leads to further complications. Customer needs can sometimes be a little juggling and it can become extremely challenging for the customer support team to keep track of technician schedules according to customer demands.
See how our chatbots are transforming the telecom industry and improving customer service, reducing churn rates and minimizing cost to serve.
Find out how chatbots can transform your telecommunications company, click here.