Optiva, a provider of cloud-native billing, charging, and revenue management software for telecoms firms on private and public clouds, has announced that its business support systems (BSS) platform now incorporates generative AI (GenAI) technology. This technology enables users to quickly identify new revenue opportunities and significantly reduce customer churn.
The platform is fully integrated with Google Cloud’s BigQuery and Analytics capabilities, allowing for deep learning to customize offerings and attract and retain customers with personalized service bundles.
A recent report by McKinsey highlighted that GenAI could potentially contribute $4.4 trillion to the global economy, with customer operations and marketing being key revenue drivers.
Optiva’s BSS Platform, powered by GenAI, can analyze real-time customer behavior and market data to uncover hidden revenue opportunities and offer market proposals. Communication service providers (CSPs) can utilize GenAI-based recommendations and automated configurations within the platform to expedite new product and pricing launches. Personalized service offerings can be created, configured, and upsold in real-time.
By leveraging GenAI tools that learn from millions of customer interactions, CSPs can identify upsell opportunities, offer innovative bundles, and predict churn for improved customer retention. GenAI utilizes market data, analytics, and competitor analysis tailored to the market, streamlining processes and accelerating time to market and revenue generation.
The combination of GenAI and real-time market data caters to the expectations of modern consumers and enterprises while reducing costs. This is particularly advantageous for new MVNOs launching their businesses on Optiva MVNO Hubs, benefiting from payment gateway integrations, taxation calculations, and support for multiple MNOs globally.
Matthew Halligan, CTO of Optiva, emphasized the importance of leveraging generative AI and real-time BSS data in the competitive market to target offerings effectively and attract customers.
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