AI Transforming Telecom: Insights from Nvidia’s Survey
Artificial Intelligence (AI) is reshaping the telecom landscape, delivering substantial sales boosts for about two-thirds of surveyed professionals in the industry associated with technology giant Nvidia. A survey of over 400 telecom experts revealed that nearly 80% experienced revenue growth from AI, with close to a fifth reporting growth exceeding 10% in specific business areas. Remarkably, only 10% of respondents indicated that their companies were not utilizing AI.
Nvidia, now the third most valuable U.S. company, has witnessed a surge in its AI chip supply business as companies eagerly adopt AI technology. The survey unveiled a notable shift in the industry’s mindset, with 66% of respondents expressing their intent to increase AI investment in 2024, compared to 47% in the previous year.
Chris Penrose, Nvidia’s Global Head of Business Development for Telco, emphasized the significance of tangible data, stating, “We’re starting to get some actual, real numbers, meaningful numbers around the impacts (of AI).” The survey highlighted that improving customer experiences stands as the top priority for telecom companies when it comes to AI adoption. Nearly half of the respondents identified this aspect as crucial, while cost reduction and enhancing workers’ productivity were also acknowledged as significant factors.
Despite the positive trends, the telecom sector faces challenges in implementing AI. The foremost obstacles include a shortage of data scientists, difficulty in quantifying return on investment (ROI), and subpar technology infrastructure. Penrose emphasized the need for talent acquisition and training, noting that having data science teams doesn’t guarantee expertise in generative AI. Therefore, he stressed the importance of developing and nurturing talent to effectively harness the potential of AI technology in the telecom industry.
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