In 2023, the telecommunications industry was expecting to confront the usual challenges: convergence of broadband and wireless technologies, mergers and acquisitions galore, and increased demands for seamless, automated CX. But what took off more than anyone could’ve guessed is the hype around AI possibilities across all industries. For telco and communications, this has left many worried about the creative role of humans if there are fast-approaching bots that could do the same job. However, a closer look at AI shows that one, AI still very much needs organic human intelligence to refine its outputs, and two, a truly impressive launch of AI in communications is going to take a lot more preparation. Addressing the age-old challenges and industry trends is a prerequisite for a proper AI launch.
That’s why at Simplus, we’ve been tracking the following trends particular to the telecom space in 2023: the looming metaverse migration, decentralized internet, and converging market space. With all the insight and experience 2023 has given, let’s take a retrospective look at how these trends shaped the industry this year.
The metaverse migration?
The clamor for metaverse migration dramatically decreased throughout 2023 (thanks in no small part to the lackluster performance of Zuckerberg’s VR endeavors). But that doesn’t mean the metaverse is canceled—it’s just going to take a little longer for the next digital revolution to hit. Immersive, all-encompassing experiences are still a major industry distinguisher for media and communications if you can execute in full and dial into customer wishes seamlessly. However, most organizations have found themselves not yet ready to deliver these experiences as they focus on preparing data management practices and CDPs for greater visibility into customer needs and preferences first.
So for now, sights have turned to focus on other trends and enticing innovations, such as AI, convergence, and the implications of a decentralized internet…
The decentralization of the internet is already unfolding before us, but there’s still a long way to go before the Web3 revolution. More and more users are accessing, creating, and interacting with web content than ever before, building a budding economy founded on blockchain, NFTs, and other token-based methods. But the regulation for such a space is still catching up with the innovation. As the evolution of a truly and completely decentralized internet takes shape, telco companies continued to spend 2023 preparing their integration points to handle more players and more customized experiences.
Converging market space
Finally, perhaps the most age-old trend in telco still looms large: the convergence of broadband and wireless market space. 5G has continued to pick up and, along with it, so have the M&A moves in telco—even with a near-recession marking most of 2023. But while these more comprehensive telco offerings accumulate, maintaining a holistic perspective on what M&A really means in telco is critical. As ATT&T’s CEO was recently quoted, “There’s a fallacy to say there’s fixed networks and wireless networks. There are only fiber networks with different access technologies on the end of them. That’s where this is all going.” Expounding on this point, the real priority for any telco is having access to a dependable infrastructure of capillaries—whether it’s broadband, wireless, or mixed; residential or commercial; regional or national. Telco providers are all fiber servicers, and all the M&A in the world can’t make up for solid technical infrastructure to support.
Eager to navigate these waters with improved operations and a strategic vision for data and AI at the helm? Simplus can help. Let’s start a conversation today and review your technical roadmap to success.