TMT: Staying Relevant in the Age of Digital Transformation

Digital Transformation
With insights from Amdocs, Tech Mahindra and TalkTalk Business, we examine how TMT businesses can maintain a competitive edge as connectivity demand surges

Technology, Media and Telecommunications (TMT) companies are facing pressure like never before.

As digital transformation continues to offer many opportunities and challenges, the telecommunications industry is being forced to adapt in order to remain competitive. This is particularly important in a world striving to be even more connected than ever before.

With insights from leading executives at Amdocs, Tech Mahindra and TalkTalk Business, Mobile Magazine explores how businesses can remain competitive and relevant in a rapidly changing digital landscape.

There are multiple drivers for this type of transformation, as Vladimir Mitrasinovic, Regional VP EMEA at Amdocs, explains.

“TMT sector end-users – consumers and, increasingly, B2B customers – want a seamless, personalised experience across telecoms, media, and technology platforms,” he says. “This demand, coupled with rapid technological advancements, compels companies to continuously innovate and evolve their offerings. 

“We’re also seeing a shift away from price to convenience and service levels. It’s no longer about who is the cheapest, it’s about who is the best and who is offering something new that’s easy to obtain and consume.”

Opportunities and challenges as connectivity demand surges

The global 5G services market was valued at US$28.9bn in 2023 and is expected to reach US$250.2bn by 2032, highlighting rapid growth. 5G wireless technology already enables users to gain access to higher connectivity speeds and lower latency telecommunications services.

As the pace of innovation continues to pick up, customer needs must be navigated carefully. As demand continues to swell alongside the growth of disruptive technologies such as artificial intelligence (AI), the TMT sector is becoming increasingly competitive.

“Profit margins are increasingly narrow as consumers demand lower prices for faster and more reliable results,” highlights Manish Mangal, Chief Technology Officer, Telecom & Global Business Head, Network Services at Tech Mahindra. “There is a need for the sector to shore up the future of telecom networks, which requires constant maintenance of expensive infrastructure and investment in upgrades that utilise next-generation technologies.”

He adds: “These factors have created a perfect storm for telecom enterprises, which recognise that they need to prioritise digital transformation to evolve and drive innovation faster than ever before.”

With this in mind, it is clear the digital transformation market shows no signs of slowing down across TMT markets. Customers are demanding new technologies and improved services more so than ever before, forcing companies across the sector to act fast. 

However, progress starts from within.

“To best serve customers, our sector needs to assess our own digital efficiency and innovate for better satisfaction and experience,” highlights Laura McCauley, Transformation Director at TalkTalk Business. “A key challenge for TMT organisations now is ensuring employees are equipped to make the most of the new technologies that have become de facto. 

“Of course, adopting these new technologies can yield huge benefits, but there’s no denying that it requires significant upfront investment of cost and resources, and demands continuous assessment as these technologies evolve.”

5G networks: A new technological era for TMT companies

At the heart of mobile connectivity transformation lies 5G. Businesses are lining up to improve upon the technology to meet customers’ evolving needs, as they see its potential to transform the way people live and work.

The technology has already successfully enabled a new generation of capabilities across a broad range of industries and remote working capabilities.

“In a digital society, connectivity has become a rite of passage for many, and so the emergence of 5G is essentially about augmenting the overall consumer experience above and beyond our usual day-to-day interactions with technology,” Manish explains. 

Laura highlights that 5G can also offer opportunities for security and edge computing, offering greater capabilities for real-time data processing. 

“Having access to fast, reliable and robust connectivity is vital for establishing customers' trust in your services,” she says. “TMT businesses are now creating vast networks of intelligence with their smart, connected technology solutions, fundamentally changing the way we interact with the world and everyday services.”

Edge computing and 5G can work in tandem to create improved automation and greater system optimisation within a business. Likewise, it can optimise new technologies like AI, machine learning and AR/VR, as they rely on high-speed connectivity.

Tools such as generative AI (Gen AI), cloud, the Internet of Things (IoT) and blockchain are already helping to reshape the industry as we know it. They can offer companies improved data analytics and gain greater customer insights to improve efficiency and trust.

“Operators need to become leaders in not just deploying these innovative technologies, but helping enterprises adopt them, creating new revenue streams for growth beyond ‘minutes and kilobytes,” Vladimir advises.

The collaborative future of telecoms

As the telecoms industry continues to undergo huge levels of change, businesses are benefiting from being prepared to harness emerging technologies like AI, IoT and 5G networks.

With this in mind, collaboration across industries and governments will be necessary in order for these technologies to reach their full potential.

“Integrating AI in network management and customer service enables more efficient operations and personalised experiences, setting a foundation for future innovations in quantum technology and sustainability,” Manish advises. “5G, meanwhile, will become the leading smartphone connection type in 2025, at just over half of the total - and is forecast to rise to more than two-thirds by 2027. 

Manish explains how global 5G connections are expected to exceed 3.8 billion in just three years. “These technologies challenge the status quo and open new revenue streams, necessitating a shift from a siloed approach to an open, collaborative ecosystem capitalising on digital transformation opportunities across sectors.

“The key will be open standards and interoperability frameworks, critical for fostering a seamless and integrated ecosystem.”

As the industry moves forward, those within the industry have two options: work together to foster greater levels of innovation, or fall behind in an already bustling market. As AI and machine learning applications will increasingly influence business projects, the 5G evolution stands poised to drive innovation.

“The race to monetise and capitalise on significant 5G investments will continue to drive innovation, even though network engineers are already talking about 6G,” Vladimir comments. “Digital transformation is a continuous evolution.”

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