The Future of Telecom Part 2: Proactive 5G and IoT Monetization Strategies

Telecommunication companies (telcos) are at a pivotal crossroads, and apart from getting left behind the competition, the only path is forward, which means embracing change. The first installment of this three-part series delved into one of the most significant influences shaping the new telecom era — Artificial Intelligence (AI). This second part will address another major topic in connectivity, specifically 5G and the Internet of Things (IoT), and offer relevant monetization strategies telcos can employ to succeed in this dynamic and competitive landscape.

5G opportunities: Private networks

The 2G and 3G sunset is ongoing, but the pace of shutdowns is accelerating across Europe, North America and Asia as operators upgrade to 4G and 5G technology. Although 5G has been around for some time, telcos have yet to exploit it properly. To say that 5G will be revolutionary is an understatement, as it will bring unprecedented speed, reliability and scalability, including greater reliability and higher bandwidth than its predecessors. Now is the perfect time for telcos to monetize 5G.

One opportunity telcos should consider is 5G private networks. Because of their security features like encryption, authentication and access control, these networks will allow telcos to create industry-specific solutions driven by secure connectivity. In healthcare, telcos can leverage dedicated, privately owned 5G networks to support applications like telehealth, remote surgery, patient monitoring, etc. In tandem with 5G private networks, telcos can also offer hospitals higher bandwidth to enable AI services like chatbots.

It is important to note that telcos should evaluate their customer and network data before investing in use cases like 5G private networks. By examining this data, telcos can better understand potential 5G opportunities to help outline deployment strategies, ultimately maximizing return on investment. Such an audit will likewise prepare telcos for the inevitable rollout of 6G.

Read the full article here.

Read Part 1: The Transformative Role of AI and Adjacent Technologies

Read Part 3: Navigating the Evolving Regulatory Landscape and the Push Toward Sustainability

Discover how EPAM is empowering telcos in their journey to TechCos – building future-ready intelligent connectivity solutions: https://www.epam.com/industries/telecom-media-and-entertainment/telecommunications