Embracing Digital Transformation for Sustainable Growth
Traditional telecoms have declined, with landlines and mobile voice services being overshadowed by digital channels and social media platforms. McKinsey data shows a significant revenue decrease in voice services while data profits have surged. The industry has had to tackle numerous digital challenges, especially during the pandemic, as consumers increasingly rely on cloud-based solutions and bandwidth-demanding applications. Fierce competition has emerged, focusing on speed, access, and pricing, leading to innovation fatigue and high churn rates.