This technical report outlines the transformative impact of 5G technology and Generative AI (GenAI) on Business Support Systems (BSS) within the telecom industry. It details how these advancements are redefining BSS functionalities, enabling telecom operators to enhance customer service, optimize operations, and create new revenue streams. The report highlights the projected growth of the global OSS and BSS market, emphasizing the role of 5G in meeting the demands for high-quality, real-time streaming experiences during major events. It explains how BSS systems manage critical aspects such as subscription management, billing, and real-time analytics, ensuring seamless service delivery. Furthermore, the integration of GenAI is presented as a strategic imperative for communication service providers (CSPs), allowing for smarter decision-making and enhanced customer experiences. The report concludes by discussing the potential of GenAI to drive meaningful growth in the BSS segment, emphasizing the need for CSPs to adapt to these technological advancements to remain competitive.