Latest News Editor's Choice

News / National

Econet voice traffic up 47% on AI usage

by Staff reporter
08 Jun 2024 at 12:34hrs | Views
Econet Wireless Zimbabwe (Econet) credits artificial intelligence (AI) as pivotal in achieving a 47% growth in voice usage during the financial year ending February 29, 2024.

Despite a significant loss of ZW$1.1 trillion (US$73.76 million), largely due to the unstable Zimbabwe dollar, Econet remains committed to leveraging AI to enhance its network and service offerings to its extensive client base.

Chairperson James Myers highlights AI's role in improving operational efficiency and customer experiences, citing algorithms for customer segmentation and personalized services as contributing factors to increased activity ratios. Investment in network modernization, including AI, resulted in notable volume growth in both voice and data segments.

With group revenue reaching ZW$14.8 trillion (US$992.43 million), a 133% increase from the previous year, Econet continues its investment in network modernization, deploying over 1,012 sites with 4G base stations. Strategic partnerships and government support in spectrum allocation further aid in expanding coverage and maintaining service uptime, particularly amidst prevalent power outages.

Despite currency depreciation affecting financial performance, Econet remains optimistic about sustained growth, driven by evolving customer demands and a focus on innovative solutions, including AI and renewable energy integration.

Source - the independent