AI Predicted to Generate $680 Billion for Telecom Industry, Says GSMA CEO
At the opening ceremony of the 2024 World Internet Conference Wuzhen Summit in east China's Zhejiang Province, John Hoffman, CEO of the Global System for Mobile Communications Association (GSMA) Ltd., revealed a staggering forecast for the telecommunications industry. Citing a McKinsey report, Hoffman announced that artificial intelligence (AI) is expected to generate up to $680 billion for the telecom sector over the next 15 to 20 years.
"AI is emerging as a powerful force with the potential to transform business and society on an unprecedented scale," Hoffman said, emphasizing the transformative impact of AI technologies.
China Leading the AI Revolution in Telecommunications
According to Hoffman, approximately 81 percent of telecom operators worldwide are testing generative AI solutions. He highlighted that Chinese operators are among the leaders in this space, propelled by significant investments, robust government support, and a thriving tech ecosystem.
"China Mobile, China Telecom, and China Unicom have already made huge strides in AI research and applications," Hoffman noted. "Their solutions are transforming public services, supply chains, and healthcare."
For instance, an intelligent computing service platform has been launched in northwest China to assist with flood control efforts, enhancing the region's disaster response capabilities. Meanwhile, in southwest China, an AI database is dedicated to the protection and development of cultural diversity, preserving rich heritage for future generations.
Global Impact and Ethical Considerations
Hoffman projected that over 150 million people worldwide could have their lives improved by mobile big data and AI solutions in the next five years. He stressed that while AI presents immense opportunities, it also brings significant responsibilities.
"AI brings responsibilities alongside opportunities," he cautioned, calling for greater attention to the ethical and sustainable development of AI technology. "We must ensure that AI technologies are developed and deployed in ways that are ethical, transparent, and beneficial to all."
A Vision for a Digital Future
The summit, themed "Embracing a People-centered and AI-for-good Digital Future: Building a Community with a Shared Future in Cyberspace," will run until Friday. It gathers global leaders, industry experts, and innovators to discuss the future of the internet and digital technologies.
As AI continues to advance, its integration into the telecommunications industry promises to reshape the way we communicate, do business, and interact with the world. Hoffman's insights underscore the pivotal role that AI will play in driving economic growth and enhancing societal well-being across Asia and the globe.
Reference(s):
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