Consultancy for Enterprise Blockchain

How is Blockchain Capable of Redefining the Telecom Industry?

The Telecom industry is one of the most dynamic industries that is continually evolving. It keeps on reinventing its operating models and offerings. From fixed landlines to a data-based revenue model, there were hundreds and thousands of transformations that brought the telecom scenario to where it is today.

Since the revenue in today’s telecom industry comes from data, there is a huge scope for blockchain. The most innovative CTOs and innovation strategists are already planning to deploy blockchain. They are leveraging consultancy for enterprise blockchain to make this transformation, best of the century.

Scope of Blockchain in the Telecom Industry

The distributed ledger technology has incredible, unparalleled capabilities of making data immutable, easily traceable, and verifiable. This core characteristic of technology would enable the telecom industry to set up a fully controlled, secure, and transparent ecosystem. It would ultimately mitigate costs, improve networks, and enhance the experience for almost all key stakeholders of the industry.

Benefits of Leveraging Distributed Ledger Technology in Telecom

  • The blockchain characterizes trust in the systems by making transactions highly transparent. It improves the coordination between different stakeholders in businesses. Furthermore, blockchain eliminates third-party involvement, thereby mitigating costs for businesses in the telecom industry.
  • With the integration of blockchain-powered smart contracts, billing procedures for roaming can be accelerated and improved. This would eliminate any chances of fraud and increase revenue generation opportunities for telecom businesses.
  • The distributed ledger powered by blockchain technology comprises a complete history of transactions. The logged data is immutable and appropriate for generating authentic audit reports.

Conclusion:

Each time, ingenious solutions have paved the way for revenue generation opportunities for the telecom industry. This time, new opportunities would be unlocked with blockchain integration, which is opined to transform the current business models into highly profitable business models.

If you are a maverick in the industry, interested in creating new revenue streams by integrating blockchain into your telecom business, get in touch with seasoned blockchain advisory experts. They would help you with everything – from ideation to enterprise blockchain solution integration.

Leverage services by leading blockchain and Fintech Global Consultants

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

enterprise AI solutions

5 Steps to Enhance Customer Experience with Artificial Intelligence

In a customer-centric world, businesses focus on maximizing customer loyalty, advocacy, and satisfaction. If you are a business seeking ways to improve customer experience, the following five steps will guide you on how you can leverage Artificial Intelligence (AI) to deliver a better customer experience.

Step 1: Devise a Customer experience strategy

Before you identify use cases for AI integration or decide what your enterprise AI solutions should ideally do, you must have a well-built customer experience strategy. You must have a clear vision of how better your customer journey should be. If you lack resources who can actively participate in devising such a strategy, you should outsource.

Step 2: Chart out and examine customer journey

Chalk out how customers interact with your business. Prepare a complete sketch demonstrating a complete cycle – from the discovery of product and presales to closing the deal and beyond. Identify key touchpoints and figure out the best way AI can help in enhancing customer experience at those points. You can also seek enterprise digital strategy advisory services to recognize those touchpoints in the current customer journey.

Step 3: Plan integrations with the best AI tools that help in understanding customers effectively

We can’t deny the fact that your organizations already have tons of data collected from sales representatives, basic customer experience assessment tools, social media, and more. According to Gartner, this data isn’t fit to use for assessing real-time insights into customers’ journeys. Businesses can leverage fully-fledged AI solutions that mine, categorize, arrange, and analyze the data that sums up the customer journey.

Step 4: Decide what would be best- to develop AI software from scratch or buy an off-the-shelf solution

Based on your requirements and budget, decide what suits your business- getting enterprise AI solutions developed for your business from the ground up or buying an off-the-shelf solution. If you choose to get it developed, make sure to hire best Artificial Intelligence consulting services to plan its effective development and deployment. On the contrary, if you choose to buy a white label solution, make sure it has all the required features.

Step 5: Track performance

Recognize key performance indicators (KPIs) and then set milestones for performance tracking. Focus on small victories and let their frequency create a momentum for welcoming the bigger ones.

Bonus: Step 6: Leverage the Best Artificial Intelligence Consulting Services

After considering the 5 step methodology, here is a bonus step that should be followed for improving the efficiency of the above-mentioned process. Formulating customer experience escalation strategy, examining customer interactions and engagements, planning effective integrations, getting Enterprise AI solution developed and monitoring, tracking performance can be a daunting task. Partner with best Artificial Intelligence consulting services and it won’t be difficult for you.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.