Top trends at MWC23
The past week at MWC highlighted a clear conscious movement by the telco industry to invest in educating and empowering the generation of tomorrow. With technology and innovation at its core the telcos will become the custodians of the connected world which will pave the way for the digital evolution, but first they must find the balance between legacy services and strategic innovation and differentiation.?
Here are my key takeaways from the week:
It is clear to see that the industry is maturing, the industry leaders who have been driving operations for 20+ years are set to retire. The loss of institutional knowledge and leadership can lead to a period of transition and uncertainty as new leaders try to establish themselves and make their mark on the industry.
In the telecom industry specifically, as leaders retire, there is an opportunity to bring in fresh perspectives and new ideas that can help drive innovation and growth. However, it is important for the industry to ensure that there is a smooth transition of leadership to ensure continuity and stability. We must invest in education!
2. It’s time to be accountable
Even though today the telecom industry is responsible for less than 3% of the global environmental impact, it has the potential to drive change across the world; By leveraging emerging technologies to reduce carbon emissions, increase energy efficiency and power sustainable solutions from agriculture to transportation. Taking a step back to look at the bigger picture however will show that many areas and regions across the world do not have access to 4G let alone 5G - as we decommission existing legacy infrastructure we now have a duty as an industry to build a circular economy which holds responsibility for the removal as well as deployment of all infrastructures, tools and devices.
If you want to hear more on sustainability, sign up for the on-demand panel which I organised during the event featuring an all-female consortium of industry leaders, here :?https://www.epam.com/a-sustainable-and-profitable-telco-mwc-panel-discussion?
3. Partnerships are key
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Telcos need to be ready to anticipate change and adapt as we move towards an accelerated, digital world. Moving from inflexible organisations into organic, open ecosystems driven by collaboration across cloud, data and software partners. The future of the smart world and industry 4.0 will not function on siloed architecture and instead we must work towards open digital architectures and frameworks which can connect value chains, embrace sensors, cloud connectivity and device-as-a-service to drive future enablement.
Creating partnerships will help telcos unlock the value of their infrastructure and blur the lines between industries to create long lasting relationships which enable faster innovation, faster investment and next level connectivity.?
4. Data is the enabler
With the increasing demand for digital services, telecom companies have access to vast amounts of data generated by their customers, networks, and devices. By harnessing this data, telecom companies can drive innovation, enhance their services, and improve the customer experience.
Nearly every service provide at MWC focused on how telcos should invest in data analytics and AI technologies, as well as develop strong data governance and security practices to protect customer privacy and ensure regulatory compliance. If telcos can position themselves as the protector and enabler of data, it opens a new role as a custodian of digital everything, creating a long-term purpose within society.
5. Focus on experiences not devices
The limitless possibilities of technologies were clearly apparent from robotic arms for medical use to virtual helicopter rides, but each ‘groundbreaking’ technology was reliant on additional devices or platforms outside of typical consumer use. Reality + will never become a reality across the globe until these physical boundaries are removed - expecting consumers to purchase an oculus which will become outdated in 2 years will never be a feasible business model. Instead it is the companies which are creating seamless experiences across the full value chain from onboarding to customer care enhanced with emerging technology from IoT to AI, who will capture the loyalty and excitement of consumers.
Although a tiring week, MWC has definitely sparked excitement in how connectivity will drive the digital evolution of tomorrow. Thanks to all my EPAM team who made the week amazing!