HCLTech partners with Tecnotree to develop 5G-led GenAI solutions for telcos

IT services company HCLTech on Wednesday said that it has collaborated with Tecnotree, a Finnish software company catering to telcos, to co-develop advanced 5G-led generative AI (GenAI) solutions for the global telecom industry.

The partnership aims to help telcos and CSPs (communication service providers) unlock new opportunities, accelerate innovation, and drive sustainable growth with personalised next-generation solutions, according to a company statement.

"The partnership will leverage HCLTech's expertise in driving AI-led digital transformation for telcos and CSPs, along with Tecnotree's proven 5G and AI-led BSS platform capabilities," the statement said. Hitesh Morar, CTO and CPO of Tecnotree Corp., stated that the partnership aims to enhance revenue monetisation capabilities for clients.

AI is reshaping the telecommunications industry, offering significant benefits such as improved customer experiences, streamlined processes, increased productivity, and enhanced network operations. The sector is experiencing a surge in AI adoption, particularly with the emergence of generative AI. This transformation is fuelled by the industry's focus on delivering better customer experiences, optimising processes, and enhancing network operations.

Nvidia's recent State of AI in Telecommunications report, published in February, surveyed 400 telecommunications industry professionals and found that AI is not only boosting revenues but also driving cost savings. The report revealed that 90% of respondents are actively involved in AI initiatives, indicating widespread integration of AI across various segments of the telecom value chain.

Improving customer experiences is identified as the primary AI opportunity in the telecom industry, with 48% of respondents selecting it as their main goal. Interestingly, 57% of respondents believe that generative AI plays a crucial role in achieving this objective. Telcos are using AI to provide virtual assistance, enhance the retail experience, offer personalised recommendations, and manage customer churn.

Meanwhile, HCLTech recently launched its Enterprise AI Foundry, an initiative aimed at streamlining and scaling the adoption of enterprise AI across business value chains. The Enterprise AI Foundry is described as an integrated suite of assets that combines data engineering and AI with cognitive infrastructure. It is optimised for Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP), and can also be adapted for on-premises infrastructure.

For the fourth quarter ending on March 31, 2024, HCLTech reported a net profit of ₹3,986 crore, slightly higher than the ₹3,983 crore reported a year ago. The company's revenue for January-March 2024 was ₹28,499 crore, a 7.11% increase from the ₹26,606 crore reported in the same period last year.