Vaishali, Franck, welcome.
Franck, to you first.
What do you make of this year's Mobile World Congress?
First of all, I really enjoy being here.
I think we can see the energy around the industry.
And what I really appreciate this year is how we see all
technologies fueling telcos for innovation.
So we can see a palpable energy this year.
Vaishali? Well, it's always good to be back, this year as well.
You can see the attendance numbers are amazing.
There's a lot of excitement.
I think the whole AI-GenAI
space has created a real stir.
And so really looking forward to it. Franck, let's talk about the
top performers in the telco industry. What are they doing right?
I think the keyword now is profitable growth, not only growth.
And I think the companies who came in '24 with healthier
margin can invest in automation, in technology, in AI to drive
efficiency and growth.
The second thing, and Vaishali, you said it, AI and GenAI
are everywhere across the value chain of telcos and across all
the Mobile World Congress, and this will be a key competitive advantage.
And last but not least, I think we still see some players
growing in noncore business—in ICT, in financial services—but
requiring now to be profitable growth.
Vaishali, how do you see telcos adding value—value creation.
Where will that come from this year?
So I think the levers are what Franck described. But if I just
step back, value creation has been a challenge.
I mean the cold reality is that while they did better telcos
this year, in this five-year period,
it is still, you know, among the lowest versus other industry sectors.
So I think a laser-like focus on how do you create
value—dividends were the main source—that needs to continue.
But at the same time, making sure they apply the levers
Franck talked about will be key, and picking two to three that
you really bet on. It could be radical cost optimization,
GenAI and AI—this is really the time for telcos not to miss their boat.
I mean we've missed it on many other fronts.
I think it can really add to both productivity as well as new
services and cost optimization.
And the last is how do you maximize asset leverage, because
I think the capex intensity and returns expectations in this
business is not going to get easier.
So, lots of fun ahead, but a few challenges too. Lots of fun
ahead, but a few challenges as well.
Yes, a few challenges.
But as Vaishali was saying, I think that on a more personal
note, and when we talk to our clients, we also see some
positive spin, positive spirits, for sure.
The telco industry has faced some challenges—
is facing some challenges.
But what we see on the ground is that also telco executives are
ready to take bold decisions, bold moves, either on cost and
growth or asset monetization.
And so I'm finally quite positive this year.
Fantastic. Franck, Vaishali.
Thank you so much.
Thank you.