The telecom sector stands on the cusp of a transformative era, according to, CEO, Telecommunications Business and Group Executive Director of Axiata, Dr. Hans Wijayasuriya.
Speaking as a keynote speaker at DTW24 Ignite, a leading digital transformation event in Copenhagen, Denmark, Dr. Hans Wijayasuriya outlined the potential for telcos to tap into a growing $1tn by moving beyond traditional connectivity to offering end-to-end solutions.
He said that it’s time for telcos to unite on a global level to access this emerging market.
DTW24 Ignite, held from June18-20, brought together industry leaders, innovators, and stakeholders to explore the future of digital transformation in the telecommunications sector.
It provides a platform for sharing insights, strategies, and technological advancements that can shape the industry’s future.
Dr. Wijayasuriya said that the future of telecom lies in shifting from simply providing connectivity to offering comprehensive digital solutions. He pointed out that the current challenge for telcos is not just about growth and that significant value can be unlocked by addressing customer demands for new ways to purchase services.
A crucial part of this transformation involves exploiting network APIs (Application Programmable nterfaces) to foster innovation and value capture. Axiata has been proactive in this area, engaging with 50,000 external developers and exposing over 100 APIs externally. However, Dr. Wijayasuriya acknowledged that there is still a considerable gap between exposing APIs and capturing their full value.
To succeed, telcos must embrace collaboration with hyperscalers and other telecom operators, viewing them as allies rather than competitors.
“Peer telcos are allies in this ecosystem, not foes. If we don’t realise this, we can forget about that $1tn,” said Dr. Wijayasuriya.
He underscored the importance of creating a “solution marketplace” that leverages the trust and security telcos can offer in their pipelines and customer engagements.
Dr. Wijayasuriya called for the establishment of a global network fabric and a federation of microservices to address the global marketplace. This approach would require major cross-sector collaboration, with industry bodies such as the TM Forum and GSMA playing a crucial role in bringing telcos together for a unified cause.
Dr. Wijayasuriya’s vision at DTW24 Ignite underscores the strategic shift needed for telcos to secure sustainable growth and innovation in an increasingly digital world. By capitalising on new digital service opportunities and embracing radical changes, telcos can prevent another round of disintermediation and create substantial value for customers and stakeholders alike.
