TOP 10 RISKS FOR TELECOMMUNICATIONS IN 2023

Telcos are facing various risks and challenges in the current operating environment. These include insufficient response to customers during the cost-of-living crisis, underestimating changing imperatives in security and trust, failure to improve workforce culture and ways of working, poor management of the sustainability agenda, inability to accelerate efficiencies through digitization, failure to ensure infrastructure resilience and reach, inability to take advantage of new business models, failure to maximize the value of infrastructure assets, ineffective engagement with external ecosystems, and inability to adapt to changing regulatory landscape.

To mitigate these risks, telcos need to develop new strategies and approaches. They should focus on understanding the interrelationships between risks and addressing them holistically. For example, creating secure digital self-service experiences can help respond to customers' cost-of-living pressures, meet security expectations, and accelerate efficiencies through digitization. Similarly, better management of the sustainability agenda can improve efficiency, trust, and engagement among stakeholders. Telcos should also approach new business models strategically, considering cost-effective customer offerings, ecosystem partnering, sustainability, and security. Taking a multilayered perspective and leveraging diverse skill sets within the organization will be crucial.

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