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The telecom industry is undergoing a monumental transformation. The rise of new technologies such as 5G, cloud computing, and the Internet of Things (IoT) is putting pressure on telecom operators to find new ways to improve the performance of their networks, reduce costs and provide better customer service. Cost pressures especially are incentivizing telecoms to find new ways to implement automation and more efficient processes to help optimize operations and employee productivity.

Of the many things one might take for granted, access to banking and financial services may not immediately come to mind. But as a thought experiment, imagine trying to buy a home or a car without the ability to take out a loan. Try depending on cash payments from your employer, or relying on alternative banking solutions like short-term payday loans, check-cashing services, and prepaid debit cards.

Organizations are transforming their industries through the power of data analytics and AI. A recent McKinsey survey finds that 75% expect generative AI (GenAI) to “cause significant or disruptive change in the nature of their industry’s competition in the next three years.” AI enables businesses to launch innovative new products, gain insights into their business, and boost profitability through technologies that help them outperform competitors.