Globally, over 5.5 billion spam calls are made monthly, and associated scams from smishing and vishing result in more than $55 billion in annual losses. These spam and scams erode trust in digital communications and place significant burdens on organizations and CSPs for a solution.
To achieve trust, a globally coordinated Tool is essential to combat spam and resulting scams. This will not only restore subscriber trust, but it will also incentivize CSPs to solve the Spam & Scam problem by unlocking new monetization opportunities from the Tool for CSPs. Such a Tool would leverage real-time intelligence sharing and advanced filtering or AI/ML models across CSP networks globally, helping telcos significantly reduce spam and associated Scams across SMS, voice, and other channels. This enhanced security would restore consumer confidence in the legitimacy of communications, enabling safer transactions in areas like payments, e-commerce, and even government services. As trust increases, telcos could leverage this tool to build new revenue models using secure communication platforms and APIs for other businesses while fostering a trusted digital ecosystem, vital for the future of digital communications commerce, payments and other digital use cases.