The four-day Mobile World Congress 2023 discussed technologies and trends, including sustainability, fintech, digital transformation, 5G, and artificial intelligence (AI). These rapidly evolving trends and technologies are transforming how we communicate, work, and live, and they were the focus of lively discussions at the event.
In the GSMA’s Global Mobile Trends 2023 report, 80 percent of telcos rated energy efficiency as important or extremely important to their planning upgrades. It highlights the need to reduce the environmental impact of mobile devices and the networks that support them through initiatives such as energy-efficient designs, more sustainable supply chains, digital everything, and renewable energy sources.
As energy efficiency is at the forefront of sustainability efforts of most telco companies, embracing digital everything to streamline processes to reduce waste, adopting energy-efficient technologies to engage with stakeholders, and setting targets for progress can contribute to a more sustainable future, increased margins and improving their brand reputation.
5G was one of the biggest highlights, with many companies showcasing their latest 5G-enabled devices, services, and 5G & metaverse use cases.
As 5G offers faster speeds, lower latency, and greater capacity than previous generations, 5G networks can support more devices while providing faster and more reliable connections.
Almost every company at MWC latched on to a story of using AI in their products, solutions, and services.
AI transforms how we interact with technology, enabling machines to learn, reason, and perform tasks that typically require human intelligence. This technology powers many latest innovations, such as voice assistants, chatbots that can communicate in multiple languages, virtual assistants that can perform complex tasks, robots that can “naturally interact” with humans, and autonomous vehicles.
These advancements in AI are not only impressive, but they also have the potential to improve customer experience, increase customer engagement, and make our lives more efficient.
The Synergy between 5G and AI
While 5G and AI are impressive technologies on their own, their true potential lies in their synergy. 5G can provide the high-speed connectivity needed to power AI applications, while AI can enhance the capabilities of 5G-enabled devices and services.
Examples: AI can help create a more connected, productive, and secure remote work environment, making it easier for companies to retain remote workers in the long term. AI can also optimize network performance, predict network failures, and personalize the user experience based on preferences and behavior. It can also significantly improve customer engagement, retain customers, and reduce churn through personalization, proactive engagement, and predictive analytics.
With 5G and AI working together, the possibilities are endless. We expect many innovative applications and services to pave the way for a more connected, intelligent, and efficient future.
The fintech industry has emerged as a promising area for telcos to explore. It can leverage existing infrastructure, customer bases, and regulatory compliance expertise. Through this growth area, telcos can diversify their revenue streams, promote digital financial services, and position themselves as leaders in the rapidly growing fintech industry.
To meet the rising demand for digital financial services, telecommunications companies can explore investment opportunities in fintech and maintain their competitive edge.
About Evolving Systems
Evolving Systems is the worlds’ #1 Revenue Accelerator for mobile operators. With a 35+ year track record of delivering innovations within the telecom sector across every corner of the globe to operators ranging from Tier-1 to boutique. Evolving powers 4 of the 5 largest Mobile Network Operator groups in the world.
Founded in 1985 with offices in the United States, United Kingdom, Spain, India, and Malaysia. To learn more about Evolving Systems, visit www.evolving.com