Innovation Park CEO Julia Vorontsova says that the Telecom industry is about to be dramatically shaken up as new technology like AI, IoT, and 5G make lasting changes.
Vorontsova said that last week’s announced plans by Vodafone to slash nearly half its staff over the next few years was part of what would become a new era.
“ The telecom industry is on the cusp of a new era marked by AI, IoT, and 5G. Companies must adapt or risk becoming obsolete. While unfortunate for those affected, this restructure signifies a company gearing up for the future,” said Vorontsova.
She said that the implications of this bold move are vast and varied. For the European Union, where Vodafone is a significant player, it could set a precedent for other telecom companies to follow.
The EU’s Digital Single Market strategy encourages digitisation and connectivity, and Vodafone’s move aligns with this vision. However, Vorontsova said that it raises questions about job security in the sector and the potential social implications of increased automation.
Globally, the impact is two-fold. It reinforces the trend towards automation and digital services — a shift that has been gaining momentum for years. It raises critical questions about the future of work in telecom, particularly in developing countries where Vodafone has a significant presence.
“As the dust settles on this announcement, the industry waits with bated breath to see how other telecom giants will respond. Will they follow Vodafone’s footsteps, embracing a leaner, more digitised model? Or will they double down on their existing structures, seeking to find a balance between human expertise and technological advancement?” Vorontsova said
