Bots & blockchain to be key in enhancing customer experience over next 5 yrs: KPMG report

The report analyses the digital ecosystem enabled through 5G, blockchain technology, IoT, AI, cognitive computing, machine learning and AR/VR

e4m by exchange4media Staff
Updated: Oct 14, 2019 5:05 PM
KPMG

KPMG in India in association with IMC and COAI have launched a report on the TMT sector titled ‘Imagine a new connected world: Intelligent, Immersive, Inventive’ at the India Mobile Congress 2019.

The report takes a deep dive into the digital ecosystem enabled through 5G, blockchain technology, IoT, AI, cognitive computing, machine learning and AR/VR to name a few.

While the current investment and focus is on creating an enriched omni-channel experience for customers, it is the use of bots and blockchain that are going to be the game changers in enhancing customer experience over the next five years, the report said.

On the need to address and allocate strategic importance to digital risk and data privacy, the reported highlighted that 57 per cent of the companies who have started work on digital transformation do not have a digital risk strategy, presenting a danger to the existence of the organisations eventually.

The report also throws light on the challenges in the implementation of the digital vision like financial stress in the telecom industry, high price of spectrum, inadequacy of a fibre network and the lack of device interoperability standards. It also suggests a way forward on how the industry could mitigate some of these challenges like the adoption of a sustainable and transparent pricing model, creation of Special Purpose Vehicles (SPV) to support international lending organisations, providing substantial investment into digital infra projects at cheaper interest rates, policy interventions in ease of doing business, and establishing funding mechanisms that provide grant funding to emerging tech start-ups.

Satya Easwaran, Partner & Head – Telecom, Media and Technology sector, KPMG in India said: “India has never been more alive in the telecom and technology space. We are excited to be a part of IMC 2019, at the core of all the action. There is a fundamental shift underway, with significant disruption and convergence in the roles of telecom and tech companies, as well as other sectors. This is leading to a wave of innovation and invention. It is imperative for companies to stay nimble from a strategic, business and customer experience standpoint, or else face potential losses or even bankruptcy. With the mobile data explosion over the last few years, rapid migration of customers to 4G, the advent of 5G in 2022, and all the associated technological possibilities in the next few years, we couldn’t be poised at a more pivotal juncture. There are some infrastructure and customer adoption challenges however, that we do need to address collectively as an industry. However, as things stand right now, we are on the brink of an India which is intelligent, immersive, inventive.”

Purushothaman KG, Partner and Sector Lead – Telecom, KPMG in India said: “The future value that will be delivered through telecom operators is not by being the provider of ‘connectivity’ but as being a trusted partner and platform provider offering value and services and experiences to customers. We are living in exciting times where new technologies like 5G, IoT, AI and AR/ VR promise to revolutionise connectivity and unlock value by creating better, more secure and personalised experiences for everyone.”

Commenting on the industry growth, Rajan S Mathews, Director General, COAI said, “The global digital revolution at present is led by the telecom industry, which is providing services beyond the conventional offerings of access, interconnectivity and applications. A testament to India gaining a competitive edge over its global players is the fact that it has the world’s cheapest mobile data at USD 0.25 per GB, resulting in higher usage by its citizens. Also, India has made great strides in other aspects of internet inclusion such as regional penetration and gender parity parameters.

However, in order to deliver value in future, telecom operators will have to go beyond being the connectivity provider and become a trusted partner and platform providing value, services and experiences to customers.”

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