Artificial Intelligence (AI) is the theory and development of computer systems having the capability of performing tasks that require human intelligence. In the AI in telecommunication market, AI-enabled solutions and services perform various functions, such as network functions, customer analytics, network security, self-diagnostics and optimization, speech and voice service, and virtual assistance, in the telecommunication industry to improve the customer experience on the telecommunication network.
MarketsandMarkets expects the global AI in telecommunication market to grow from USD 365.8 Million in 2017 to USD 2,497.8 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 46.8% during the forecast period. Increasing adoption of AI for various applications in the telecommunication industry and utilization of AI-enabled smartphones are expected to be driving the growth of the AI in telecommunication market. The major AI in telecommunication companies include IBM (US), Microsoft (US), Intel (US), Google (US), AT&T (US), Cisco Systems (US), Nuance Communications (US), Sentient Technologies (US), H2O.ai (US), Infosys (India), Salesforce (US), and NVIDIA (US). The market players have adopted the strategies of new product launches, product enhancements, acquisitions, collaborations, and partnerships to offer feature-rich products, solutions, and services to their customers, and penetrate deeper into the uncatered regions.
AT&T is a major telecommunication holding company that provides services to consumers, business organizations, and other providers, globally. The company provides wireless communications, local exchange services, long-distance services, data/broadband and internet services, video services, telecommunications equipment, managed networking, wholesale services, directory publishing, and advertising solutions. It also sells handsets, wirelessly enabled computers, and wireless data cards, manufactured by other suppliers, bundled with its voice and data services. In October 2017, AT&T collaborated with Tech Mahindra to develop Acumos, an open source AI platform hosted by the Linux Foundation. Acumos is a framework for machine learning solutions, having the capability to edit, compose, pack, and deploy AI networking services.
Nuance Communications is another player in the AI in telecommunication market. The company’s main solutions include natural language understanding and voice recognition. Nuance offers biometric speaker authentication, optical character and text-to-speech recognition capabilities, professional services and implementation support, and dialog and information management, so that the company’s customers can create a better experience for their clients. In April 2016, the company formed a partnership with Swedbank Group, where it would offer the virtual assistant, Nina. Nina would help in delivering a natural conversational experience, along with quick access to information for banks’ customers as well as service agents.
AI in Telecommunication Market by Technology, Application (Network Optimization, Network Security, Self-diagnostics, Customer Analytics, and Virtual Assistance), Component (Solutions and Services), Deployment Mode, and Region - Global Forecast to 2022
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