Unlocking Innovation: how service providers can support industries

Though businesses are feeling the pressure to innovate, many are still lagging behind when it comes to investing in and implementing the right technology. In light of this, we conducted research with industry leaders from FTSE 200 companies in healthcare, manufacturing and transportation to better understand the problems they face and consider how service providers can better cater to their needs.

Whilst the challenges each industry faces are somewhat unique, it is clear that service providers’ unrivalled connectivity alongside a clear understanding of businesses’ verticalized ambitions is key to unlocking the next stage of opportunities. By becoming trusted long-term partners, service providers can drive innovation and transformation forward.

In this article, I will delve into the pain points experienced by industry leaders, examine their vision for the future and explore strategies that could support industry leaders in achieving their innovation objectives.

Healthcare: Sharing data securely

Frequently, healthcare innovation requires collaboration between multiple stakeholders such as hospitals, clinics and government agencies. Yet, sharing data between these groups is ruled by complex compliance regulations. Device interoperability – the ability to exchange and use information across devices – is also an issue here, affecting business leaders’ ability to seamlessly share information.

In recent years, we have seen a significant increase in demand and use of telemedicine and virtual care: in the UK alone, the market size of telemedicine services has increased by roughly 20% per year between 2018 and 2023. However, there is a digital divide across the UK. A lack of widespread fixed line access has left a significant number of homes without proper internet connectivity. For service providers, this is an opportunity to enable remote care through connectivity.

5G-fixed wireless access will augment existing infrastructure in rural areas to ensure that dwellings without fibre connectivity, such as farms, can access remote healthcare. This approach is being actively explored with encouraging results. West Mercia Rural 5G is enabling remote patients to stay in the familiar setting of their care home while accessing treatment, which is deemed especially important for patients with dementia. In addition, this connectivity will save patients from travelling back and forth, which could expose them to additional health risks.

Manufacturing: Growing security and maintenance needs

Despite the private manufacturing sector accounting for a huge share of research and development spending in the UK, there is an industry-wide skills gap that is yet to be surmounted. The internal knowledge and skills needed to utilise new technology is lacking outside of the developers. This gap not only creates inefficiencies in the production process (resulting in higher costs and lower profits) but feeds into a cycle where innovation is not supported – resulting in a wider cultural problem.

As a result, the lack of new technological investment often leaves outdated legacy systems in place, with higher-ups wary of supporting upgrades or migration to new platforms. Legacy systems leave companies vulnerable to the growing threat of cyber-attacks which increased globally by 7% in Q1 of 2023. So, it should come as no surprise that manufacturing respondents in our research cited protecting investment from cyber-attacks and theft as a key priority area for investment. Businesses must invest in up-to-date cybersecurity technology to keep the fruits of their innovation secure.

While predictive maintenance has already revolutionised the way that manufacturers, and the businesses they supply, approach equipment preservation. Digital twins and 3D models are the next iteration of real-time data visualisation, from IoT-enabled devices back to a centralised system which can predict potential faults or malfunctions before they occur. This approach minimises unplanned downtimes, keeps machinery running smoothly, and ultimately reduces costs if businesses are willing to invest in innovation. Innovators such as Nvidia are accelerating the outcomes that can be realised with this approach, an example is their omniverse platform which enables industrial metaverse applications with little to no code, augmented by AI.

Additionally, improved infrastructure can enhance efficiencies via AI and machine learning. Manufacturers who invest in digital twins can also virtually replicate a physical product or system: Siemens successfully pioneered digital twins to test complex product design and production planning, optimising its manufacturing process.

Transportation: Upgrading legacy technologies

Finally, the global transport industry has successfully recovered since the stagnation of the COVID-19 pandemic, with compound annual growth rate expected to reach 9.5% into 2026. Leisure and business air travel in particular, is rising rapidly as the aviation industry is expected to exceed its pre-pandemic level by year end.

With growth less of a concern, the industry is now under pressure to achieve its sustainability goals, with huge modernisation efforts and investment needed. Achieving this will require navigating upgrades to infrastructure that is already heavily depended on. Service providers can help the industry at large to better utilise data analytics in order to gain sight of future demand which in turn, will drive efficiencies.

Reducing risk and journey times will also contribute towards meeting sustainability goals. Service providers need to demonstrate understanding and ability to navigate dependencies to position themselves as a trusted partner for the sector. Smart data, including real time transportation data, can analyse where, when, and why accidents happen and create Prognostication Crash Maps to shortlist high-risk areas to avoid.

Additionally, as autonomous driving has received billions of dollars of investment in recent years, the demand for advanced driver-assistance systems (ADAS) has increased. Major improvements in capabilities could be on the horizon. An upgrade would not only support the industry in measuring its own success through smarter insights but also in becoming more interconnected to support transformation and automation across the board.

An innovative future

Service providers have a vital role to play in the current landscape through aligning their 5G offerings to industry verticals. To their advantage, service providers are uniquely placed to support verticalized innovation. Already, they have access to thousands of pop exchanges across the country with an existing widespread network and close access to customers.

Partnerships between businesses and service providers, will provide vertical organisations with the knowledge and confidence they need to implement the right innovative technology to help them become competitive for the future.