Welcome to 2024!
A new year brings with it challenges, but also opportunities and with 2024 underway, we wanted to pause for a moment to highlight a three key opportunities or trends we’ve heard about that will shape the telecommunications industry globally this year.
- Artificial Intelligence and Machine Learning:
We’ve touched on this a few times, but Artificial Intelligence (AI) and Machine Learning (ML) are predicted to play an even bigger role in telecoms this year. RCR Wireless suggests that in 2024, there are three key domains which AI will unfold in this year – these are:
- Optimising performance, diminishing downtime, and elevating service (network) quality.
- AI will revolutionize the end-user experience in wireless networks through techniques like machine learning, generating intricate insights into network quality and user interactions.
- AI will play a role in enhancing operational efficiency for the telecom workforce by automating repetitive tasks and offering intelligent insights.
Industry staple players as well as startups have been investing and creating AI and ML platforms, which we know we will be keeping an eye on.
One other key discussion the industry is having around AI and ML is monetizing it, so in 2024, we are looking out for ways telecoms players and companies will work to achieve profit and industry growth using AI and ML technologies.
Hamish White from Mobilise writes: “In 2024, we’re likely to see a shift towards the development of profitable use cases for the technology — in telecoms and elsewhere. For businesses, generative AI’s flexible nature presents an opportunity to create a more human-like representation of their brand that can build genuine customer relationships, enhancing customer loyalty and satisfaction. But what could generative AI offer telcos specifically?”
Like Hamish (and much of the industry), at Vecta Labs we continue to remain fascinated by the opportunities AI and ML combined and individually can continue to create for the telecommunications industry.
- Connectivity through technology:
“Connectivity technologies are constantly evolving and include both wired and wireless communications. The development of communications technology is critical in today’s IT environment, with increasing data volumes, IoT devices, and people using the internet. Further, users increasingly share high-quality digital data, such as videos, photos, and music.
“All of these factors, along with the increasing use of satellite communications, contribute to the top trends in the telecom industry with innovation in connectivity technologies”- StartUS Insights in its article, The Top 10 Telecom Industry Trends and Innovations in 2024.
At Vecta Labs, we’ve been big believers in improving technology from the outset, and we’ve had the privilege of supporting the telecoms industry by creating and adapting technologies over the years – most recently, our ExoFlex Technology has allowed installation of sector assemblies onto cell towers in a very short period – so, in 2024, we will absolutely be watching as technology continues to drive connectivity in the world of telecommunications.
- Sustainable trends in telecommunications – including reducing the carbon footprint:
In 2024, sustainability is a critical component of just about every industry on earth and in telecommunications, it is something we – as an industry – are working to improve. In 2024, a key trend for the industry will be sustainability, reducing our carbon footprint and creating an even more energy-efficient future.
In its 2024 Media and Telecom Predictions Whitepaper, Deloitte highlighted the sustainability opportunities for the telco industry, suggesting that “Telcos could reduce their carbon footprint by 2% globally as they move from copper to fiber, shut down 3G networks, and deploy efficient 5G networks. Semiconductor companies will likely use less water and power per chip.”
We’d love to see the industry become a champion for sustainability in 2024, and we look forward to playing our part in achieving a sustainable future through simple actions like recycling, ensuring sector assemblies are ready and tested before they are installed and following trends in the industry – in 2023, we published a piece around our recycling successes on a recent project – if you are interested to learn more, check that story out here.
These are just three of many trends and opportunities for our industry in 2024 – we’d love to know what trends you are most engaged with and excited by this year. Please do let us know by getting in touch at contact@vectalabs.com or commenting below.