The Fourth Industrial Revolution has taken full effect in our current world. Information is ubiquitous and accessible in multiple ways and through multiple devices. Connectivity is omnipresent, enabling organizations to make decisions in real time.
Organizations who are still on the sidelines about digital transformation risk getting severely left behind. To get up to speed, companies must focus on restructuring their processes, redefining their business strategies, and developing the best in class suite of technologies.
In this hustle of adopting more modern technologies and starting on the journey toward digital transformation, organizations must not leave out one crucial element: telecommunications.
The domain of telecommunications is also facing a major paradigm shift in the way it enables businesses to leverage benefits that help to achieve business growth. However, telecommunications are still dominated by legacy service providers.
This leads to an important question: Can they survive this digital transformation?
The answer is YES. However, there are at least 3 challenges, telecommunication providers will encounter:
1…Most organizations face the daunting challenge of finding the right talent. In fact, right at 54% feel that a talent gap is hindering their company’s digital transformation programs. Therefore, organizations must follow a talent strategy that encourages collaboration and cultivates in-house skills.
2…Technology in telecommunications will undergo drastic changes with old systems being eliminated to make way for new systems. Employees and IT leaders must get used to having up-to-date systems in place and learn how to work them. While voicemails will be a thing of the past, brands will need to work harder to create a seamless technological customer experience.
3…Taking time to make the right decisions is critical. While the need to transform at the speed of technology is important, companies who adopt new technology faster than their competition without thinking about the company goals long term will ultimately fail.
Across the past decade or so, CIOs have come to depend on the cycles of technology over three, five, and ten-year time frames. Today, it is important that CIOs and CTOs regularly evaluate their strategies for business and implement new technologies at the right time.
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