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Transforming The Telecos With The Power Of Artificial Intelligence

By finbraine 

Transforming The Telecos With The Power Of Artificial Intelligence

The telecommunication industry is going through a massive transformation phase of development, mainly to equip itself per the latest technological demands and customer needs. While this has given the industry a lot of opportunities, the telecos around the globe are facing a lot of challenges. Moreover, to gain a competitive edge, they need to emphasize providing personalized solutions to their customers.

Top Challenges Of The Telecom Industry

Some of the major challenges faced by telecos today include:

  • Inconvenient telco system – The requirement to upgrade their infrastructure to focus more on providing high quality, reliable and affordable data, and voice services. With the security of the networks becoming the major priority, they are facing new threats powered by the latest technologies. Therefore, several technical and operational innovations are needed to meet customer expectations of complete security from the network to the device level.
  • Fewer resources – The need for automated resources and tools to offer customized solutions and operational support services such as order fulfillment, billing, and customer care.
  • No fraud prevention system – Need for identity verification to reduce high fraud risk. With SIM card fraud seen as a growing concern among mobile users, telecos are looking to explore online boarding of new prepaid SIM users as a means to save onboarding time and cost, and enhance the overall customer experience. However, this online onboarding comes with its own risk of dealing with customers who might be using fake identities.

Value Added By AI In Telecom Sector

  • Instant data push/pull – Today’s telecommunication service providers are facing increasing demands for better customer experience and higher quality services, leading them to capitalize on opportunities posed by the vast amount of data captured from the massive customer base. This data is pulled from networks, devices, mobile applications, billing data, and so on. Leveraging the power of AI, telcos are analyzing this data to extract actionable insight and provide better customer experience, increase productivity and improve operations. 
  • Real-time SIM issuance – IDC indicates that around 63.5% of operators are investing in AI systems to improve their infrastructure. AI-driven analytics is helping them to predict the future based on historical data. Robotic Process Automation (RPA), a form of business process technology based on AI, is helping telecos to manage their back-office operations and a large volume of repetitive, rules-based actions. By streamlining complex, labor-intensive, time-consuming processes such as customer onboarding, billing, etc. RPA frees up staff for higher value-added services. 
  • Real-time ID verification – To tackle telecom fraud, real-time identity verification services are seen to be offering invaluable aid. Effective fraud coverage is possible with a combination of rules and applied AI and ML technologies, using which companies can detect anomalies and make informed decisions. Furthermore, the immense amount of unsecured data flowing through the connected devices onto the networks can also be secured through AI and ML technologies. 

Digital KYC To Prevent Identity Theft

Know Your Customer, or KYC ensures secured processes associated with online transactions through the power of the internet and camera/smartphones to carry out live verification. These services rely on AI to carry out verifications/authenticity of pictures and documents that act as proof of identity. So, when a customer enters a credit card number to buy a SIM or other service, he is asked to verify his identity via the digital KYC service provider. 

Such online services are provided by various telecommunication giants such as Verizon, T-mobile, and so on. However, these days various third-party online verification service providers provide a complete gamut of KYC services. 

FinBraine’s IDBraine is a secured, intelligent unified digital KYC solution that offers identity verification service in an easy, simple and agile manner. The two types of KYC offered – Biometric KYC and In-App KYC helps telecoms to verify the users before they onboard them. It features intelligent verification and true identities through live data verification and instant data extraction, and validation.


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