Telecommunications is a constantly changing and highly competitive sector that, since the liberalization of the market in the late 90s, has become the protagonist of a massive growth that has led to a multiplication (sometimes uncontrolled) of telecommunications operators that today sees the giants of the sector share the market with a myriad of other competitors, often newer and coming from heterogeneous markets (examples in this sense are, for the Italian market, 1voce owned by Carrefour or Green Mobile that in addition to dealing with telephone services is provider of Electricity and Gas).
In addition to all this, the Telco sector is now facing even greater difficulties resulting largely from the post-pandemic crisis and the outbreak of war in Ukraine, These have given rise to a real price war between the actors present enabling them to gnaw at each others slices of a market that is historically characterized by very high Churn rates and that, given the situation, shows no sign of decreasing.
Telecommunications companies therefore need to focus on strategies that can keep prices competitive on the one hand and, on the other, maintain high quality of service, which increasingly represents the guiding star to follow for every company whose goal is to reach the top of its industry.
To do this, it is necessary to make a decisive turn, opting for a change of general strategy that involves the use of innovative technologies such as Artificial Intelligence, the only ones able to shed light on the huge amount of information and data that comes daily from the market itself, in order to use them to set up data driven strategies capable of responding to the increasingly stringent and specific requests of consumers.
By implementing Artificial Intelligence within their business, Telcos will have the possibility to analyse consumers in depth and provide them with the service that best suits their necessities, personalizing it on their needs and making sure that each of them can always feel at the center. Furthermore, they can focus on finding new customers by carrying out evaluative studies that allow them to propose the right product at the right time, especially in the current context in which the choice of a telephone operator is no longer limited to a sim card and a tariff plan, but to a lifestyle based on family, work and leisure needs.
How is it possible to use Artificial Intelligence within your business?
Find out by reading our use cases for the Telco market.