In a world where data breaches and cyberattacks are increasingly common and consumer trust is fragile, telecommunication operators (telcos) have solidified their position as trusted companies. They have maintained positive trust scores from their customers, which makes them more likely try generative artificial intelligence (AI)— opening up new product and business opportunities for telcos.
Boosting generative Al literacy across regions
Despite these promising developments, it’s important to note that the adoption and understanding of generative AI vary significantly across different regions. For instance, America trails other countries in AI literacy: only 10% of Americans report using generative AI at work compared to respondents in other countries, and 17% report high levels of familiarity with generative AI.
This familiarity with the technology is strongly correlated with trust and confidence in it. Therefore, for companies bullish on integrating generative AI into their business, it is important to increase generative AI literacy among their current and prospective customer base.
In order to do this, customer segmentation and targeted awareness-building is essential, as familiarity and adoption vary significantly by generation, gender, and work industry: 8% of Boomers have high familiarity with generative AI, compared to 29% of Gen Z, and 20% of males report high familiarity, compared to 15% of females.
Telco expansion into healthcare and financial services
Consumers are interested in their telco offering adjacent services, such as healthcare and financial services, which traditionally require a high level of trust. This interest is particularly pronounced among Gen Z consumers who expect innovation to seamlessly integrate into every aspect of their lives. They see telcos not just as providers that connect their devices, but as entities that directly deliver connected services that are integral to everyday life.
There is a unique opportunity within financial services for telcos to further expand their many consumer touchpoints and integrate themselves into the heart of consumers’ day-to-day lives. In this market, telcos can cover the basics such as managing checking, savings, and investment accounts. However, the real opportunity for differentiation is telcos leveraging their digital infrastructure to develop digital wallets and mobile payment offerings, enabling those that bank with the telco to have seamless and hassle-free transactions.
In healthcare, telcos can leverage their connectivity capabilities to facilitate telehealth solutions, offer online appointment bookings, and even in-store care at their branches. In addition, they can offer bundles with health monitoring devices that sync directly with an app on consumers’ phones which generate health insights, providing continuous and proactive healthcare.
In conclusion, telcos find themselves in an advantaged position when it comes to capitalizing on generative AI. The key will be taking swift action to find and communicate their differentiated place in the landscape, and get their customer base up to speed and comfortable with how they are using the technology. With the right approach that increases generative AI literacy while building upon their unique position of trust, telcos can unlock the full potential of generative AI and lead the way into the future.
