GSMA Chief Declares: AI Expected to Generate $680 Billion for Telecom Sector
GSMA's leader predicts that the telecom sector will see a $680 billion boost thanks to AI advancements.
TroibNews 
Over the next 15 to 20 years, artificial intelligence is projected to generate up to $680 billion for the telecommunications industry, as stated by John Hoffman, CEO of the Global System for Mobile Communications Association Ltd., during a speech on Wednesday.
Hoffman referenced a McKinsey report while addressing attendees at the opening ceremony of the 2024 World Internet Conference Wuzhen Summit, which is taking place in eastern China's Zhejiang Province.
He highlighted that AI is emerging as a powerful force capable of transforming business and society on an unprecedented scale.
Approximately 81 percent of telecom operators worldwide are currently testing generative AI solutions, with Hoffman noting that "Chinese operators are one of the leaders in the space, with big investments, strong government support and a booming tech landscape."
He mentioned that "China Mobile, China Telecom and China Unicom have already made huge strides in AI research and applications, with solutions that are transforming public services, supply chains and healthcare."
Hoffman provided examples, including an intelligent computing service platform launched in northwest China to assist with local flood control efforts, as well as an AI database in the southwest that focuses on the protection and development of cultural diversity.
Globally, he stated, over 150 million people could see improvements in their lives thanks to mobile big data and AI solutions within the next five years.
While discussing the opportunities presented by AI, Hoffman emphasized the responsibilities that accompany them, calling for increased attention to the ethical and sustainable development of AI technology.
The summit, themed "Embracing a People-centered and AI-for-good Digital Future: Building a Community with a Shared Future in Cyberspace," will continue until Friday.
Thomas Evans contributed to this report for TROIB News
Hoffman referenced a McKinsey report while addressing attendees at the opening ceremony of the 2024 World Internet Conference Wuzhen Summit, which is taking place in eastern China's Zhejiang Province.
He highlighted that AI is emerging as a powerful force capable of transforming business and society on an unprecedented scale.
Approximately 81 percent of telecom operators worldwide are currently testing generative AI solutions, with Hoffman noting that "Chinese operators are one of the leaders in the space, with big investments, strong government support and a booming tech landscape."
He mentioned that "China Mobile, China Telecom and China Unicom have already made huge strides in AI research and applications, with solutions that are transforming public services, supply chains and healthcare."
Hoffman provided examples, including an intelligent computing service platform launched in northwest China to assist with local flood control efforts, as well as an AI database in the southwest that focuses on the protection and development of cultural diversity.
Globally, he stated, over 150 million people could see improvements in their lives thanks to mobile big data and AI solutions within the next five years.
While discussing the opportunities presented by AI, Hoffman emphasized the responsibilities that accompany them, calling for increased attention to the ethical and sustainable development of AI technology.
The summit, themed "Embracing a People-centered and AI-for-good Digital Future: Building a Community with a Shared Future in Cyberspace," will continue until Friday.
Thomas Evans contributed to this report for TROIB News
