The voice-over internet protocol (VoIP) market seems to be expanding with no plans for slowing down. The sector is expected to reach $327.5 billion by 2031. The market is poised to grow at a CAGR of 21.1% from 2022 to 2031. However, VoIP companies face rising traffic, strained networks, and fierce competition as more businesses adopt cloud communications.
To adapt, many now turn to artificial intelligence to optimize operations, reduce costs, and better engage users. AI offers VoIP companies an opportunity to enhance everything from sentiment analysis to real-time call routing and intelligent virtual assistants.
For businesses with a toll-free phone number, AI can automatically switch to the best network provider in real-time, reducing call drops. This can significantly reduce frustration and improve the first call resolution rate.
But is AI being used in telecom? If so, how can you use it to improve your services? Let’s understand.
How Big Is the AI in the Telecom Market?
The global AI telecommunication market was valued at $1.78 billion in 2022 and is expected to reach $32.39 billion by 2032. It is poised to grow at a CAGR of 38% between 2022-2032. This highlights that more and more telecom companies will implement AI in their systems.
The rapid growth of AI adoption in telecoms is driven by the exponential increase in data traffic from 5G and smart devices. AI helps efficiently manage the surge in networks, optimize routing, and ensure quality of service. Furthermore, AI can automate processes, predict network faults, reduce maintenance costs, and identify high churn risk customers.
How Can Telecom Companies Leverage AI To Improve Their Services?
Telecom and VoIP companies use artificial intelligence to improve customer experience, analyze customer sentiment, and transcript calls at scale. Here’s a detailed expansion of the use cases of AI for your business.
1- Enhancing Customer Experience
Artificial intelligence allows telecom companies to transform the customer experience through technologies like conversational AI chatbots and intelligent virtual assistants.
Artificial intelligence (AI)-driven chatbots can comprehend natural language and retrieve subscriber account details when users contact customer support. Then, it can instantly and continuously address frequent problems like payment processing, billing questions, and service activations. Complex complaints may be effortlessly transferred to human agents by more sophisticated technologies.
Additionally, virtual assistants can make recommendations for upgrading plans or additional services that align with a customer’s calling patterns. By tailoring offerings based on intelligent subscriber data analysis, telecoms generate more revenue while providing personalized service.
2- Sentiment Analysis
With AI-driven sentiment analysis algorithms, telecom companies can efficiently gauge customers’ sentiment across various communication channels. By analyzing this feedback, telecom and VoIP companies can gain valuable insights into customer satisfaction levels and identify areas for improvement in their services. Over time, they can track sentiment trends to see if the changes they implement make an impact. This allows much more targeted and measurable feedback than traditional surveys alone.
3- Transcription Services
AI-powered transcription technologies can quickly and accurately translate vast amounts of audio recordings, such meetings or customer support calls, into text. You may effectively reveal information without requiring personnel to listen to recordings in real-time by having client calls automatically transcribed. Support teams and product managers may also easily search through numerous hours of audio data to find reoccurring problems, customer annoyances, agent teaching opportunities, and more thanks to mass transcription facilitated by AI.
4- Call Routing
Call routing powered by AI is revolutionizing the way calls are sent to the right people. With the use of complex AI algorithms, the system is able to examine a wide range of factors, including caller history, language preferences, and the type of inquiry. Then, it may call the best appropriate agent based on intelligent routing. Decreasing call transfer times only improves customer satisfaction by streamlining operational procedures and guaranteeing prompt and accurate question responses. Additionally, call routing enabled by AI helps optimize resource allocation by dynamically adapting to varying call volumes and agent availability.
5- Network Optimization
AI can detect inefficiencies, forecast capacity constraints, and identify reliability risks proactively. It can also track interdependencies between vast infrastructure combinations – learning optimal configurations unique to individual VoIP companies and their architecture. It might indicate where adding resources could resolve a brewing bottleneck before service impairment.
For example, AI might determine that adding transit capacity between specific regional data centers will improve voice quality and reliability during peak mid-day calling surges. Or identify that optimally placing media relays will lower latency for global call center operations.
6- Data Security and Fraud Prevention
There has been a significant rise in data breaches. AI has great potential for enhancing cybersecurity, detecting fraud, and securing sensitive customer data. By scanning activity patterns, AI intrusion detection can identify anomalies indicative of hacking attempts, phishing schemes, or rogue insiders misusing data or telephony infrastructure.
AI analyzes everything from network traffic, database queries and login behaviors to calling metadata and payment transactions for red flags in real-time before damage occurs. With custom fraud models, you can combine AI security layers with policy enforcement to lock down vulnerabilities.
Conclusion
There is a lot of room for improvement in telecom services with artificial intelligence. By utilizing AI for call transcription, customer sentiment analysis, and call routing to the most suitable operators, you can provide unmatched quality and value. In addition, increased customer satisfaction, cost savings, and operational efficiency will result from AI-driven insights into customer demands, operational data, predictive capabilities, and automation.
How do you plan to use AI to improve your services?
Featured image provided by panumas nikhomkhai; Pexels; Thanks!
