We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Phones, laptops and other telecom devices serve as essential bridges that connect the world. However, the telecom industry is also exposed to several ongoing threats and vulnerabilities, as malicious actors continue to advance with more sophistication and even innovation. The Truecaller Insights 2021 U.S. Spam and Scam Report estimates a staggering $29.8 billion was lost to phone scams in the United States in 2020 alone. Steven Wilson, head of Europol's European Cybercrime Center (EC3), said in a report that financially motivated cybercriminals will always find ways to exploit new and existing business processes and technologies.

The number of smartphone users across the world has skyrocketed over the last decade and promises to do so in the future too. Additionally, most business functions can now be executed on mobile devices. However, despite the mobile surge, telecom operators around the world are still not that profitable, with average net profit margins hovering around the 17% mark. The main reasons for the middling profit rates are the high number of market rivals vouching for the same customer base and the high overhead expenses associated with the sector. Communication Service Providers (CSPs) need to become more data-driven to reduce such costs and, automatically, improve their profit margins.