Are Companies Rising to the Challenge

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Jarif
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Joined: Tue Jan 10, 2023 5:41 am

Are Companies Rising to the Challenge

Post by Jarif »

The digital revolution has permeated most aspects of our lives and the intersection of technology and humanity has never been more profound. As such, digital technology is everywhere, from shopping and finance to health and wellness. This phenomenon has also made a substantial impact on communications and digital technology has placed the whole universe in our pockets, allowing us to keep in touch with just a few taps on a screen. Air travel made the globe smaller, while digital tech is bringing the world to us, no matter where we are.

Some key facts By the end of 2018, there were over 2.5 billion smartphone users worldwide In 2019, 56% of the world population has access to the internet As of 2018, more than 2.6 billion people use social media platforms The way we communicate has changed profoundly within a short space of time. In less than 30 years, we’ve moved from phone calls and Bitcoin Email Leads letters through email, instant messages, VOIP, video chat, and virtual reality. Today, we can see and talk to someone halfway around the world in seconds. This rapid pace of change presents challenges and opportunities for telecoms companies. Future success depends on effective strategy-building now, so we’re focusing on how telecoms can embrace digital transformation and use it to their advantage, today and in the future.

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So, what are the key challenges for telecoms companies? ​The Rise of Social Media ​The Rise of Social Media Thanks to social media, there’s now a wide spectrum of communication platforms for consumers. This has shifted an element of power from the suppliers to customers. Take landline usage, for example. In the United States, the percentage of consumers with a landline connection has fallen from 92% in 2004 to 43% in 2017. Almost half of customers have ditched the old technology in less than 15 years. While landline use has been in a prolonged decline, access to social media has accelerated rapidly. This helps to explain the move away from traditional technology, which only served one purpose.
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