SINGAPORE, 23 September 2019 – The 29 billion connected devices expected by 2022, present steep growth in revenue and subsequently, revenue threats for enterprises of all sizes in the future. Communications Service Providers (CSPs) must consider all eventualities of risk and prepare for every scenario with tools in place to enable very rapid response times, warns Neural Technologies Senior Data Scientist and Advisor, Dr. George Bolt at CFCA 2019.
Speaking at the upcoming CFCA Fall Educational Event 2019, Dr. Bolt cautions providers to protect themselves and their profits against the ever-increasing threat of revenue loss. With the Internet of Things (IoT) and 5G connectivity providing a revenue growth of USD 1.1 trillion by the year 2025, CSPs will be fighting off more threats and facing more complex problems than ever before.
“Detecting revenue leakages quickly is a very difficult and complex problem to solve. Identifying and analyzing potential threats requires a sophisticated approach to address emerging scenarios and prevent revenue threats from affecting the bottom-line,” said Dr. Bolt. “Machine Learning (ML), properly applied, is the most reliable and thorough method of preventing revenue loss and fraud. It enables CSPs to effectively manage and protect their end-to-end revenue chain through fraud prevention plus revenue and business assurance processes, giving them superior revenue intelligence.”
50% of operators experience a revenue leakage loss of between 1% and 18% in Africa and the Middle East, with 18% of operators experiencing a 10% loss. CSPs and regulators worldwide need to look at the revenue management solutions in place and consider how planning for Machine Learning will help them to stand up to these threats.