Verizon Communications, the largest retail cellular carrier in the United States, is placing its bets on artificial intelligence (AI) as the next major growth driver for the company. According to Sowmyanarayan Sampath, the CEO of Verizon Consumer, AI has the potential to double the network size within the next five years. While video traffic has been the primary driver of network expansion in recent years, Sampath believes that the demand for AI-powered apps will soon surpass video traffic.
To meet the growing demand for data transmission, Verizon recognizes the need for a robust network infrastructure that can effectively transmit and analyze vast amounts of data generated by AI tools. This strategic move positions Verizon to revolutionize various aspects of its business operations through AI integration.
One example of Verizon’s AI implementation is its customer service operations, where Google’s AI program has been integrated. This program equips 40,000 customer support workers with the power to provide improved service to clients. By monitoring the tone and sentiment of customer phone conversations, the program enables supervisors to intervene promptly and provide support when customers appear to be frustrated. This automation of routine tasks allows customer service agents to focus on more challenging tasks, such as assisting customers with international vacations or account changes.
Verizon also plans to leverage AI to provide personalized recommendations and curated deals to customers in real time. This move aims to enhance customer satisfaction and improve the overall customer experience.
To manage the anticipated increase in data traffic associated with AI, Verizon has strategically positioned its infrastructure and made investments in spectrum acquisition. CEO Hans Vestberg emphasized the company’s commitment to commercialize the mobile edge computing capabilities of its network, creating a revenue stream centered on AI. Vestberg stated that “workloads involving generative artificial intelligence represent a great long-term opportunity for us.”
Verizon’s focus on AI aligns with its goal of becoming a more efficient organization. By growing its network and strengthening its performance advantage, Verizon aims to stay ahead in the competitive telecommunications industry.
In conclusion, Verizon’s emphasis on AI as a growth driver reflects the company’s forward-thinking approach to meet the evolving needs of customers. By integrating AI into its operations, Verizon aims to enhance customer service, provide personalized recommendations, and establish a revenue stream centered on AI. With strategic investments in infrastructure and spectrum acquisition, Verizon is well-positioned to capitalize on the potential of AI in the coming years.