Telstra and Accenture have announced a proposed joint venture (JV) to rapidly accelerate the Australian operator’s data and AI roadmap to further extend its network ‘leadership’, improve customer experience, and help its teams operate more efficiently and effectively. The proposed JV would be 60 percent owned by Accenture and 40 percent by Telstra, with Telstra maintaining control over its data and AI strategy and roadmap, which the JV would help deliver. No additional details regarding the agreement’s financing were provided.
“The JV would comprise specialists from Telstra and Accenture’s Data and AI teams to build on Telstra’s work creating a world-class data and AI ecosystem, modernising its data and AI platforms, and embedding responsible AI by design,” the companies said in a joint statement on Wednesday, January 15, 2025.
Key Focus Areas of the Joint Venture
“A key focus of the JV would be to reinvent business processes through new capabilities like agentic AI, enabling teams to work with intelligent AI ecosystems to optimise key tasks end-to-end,” the official release said. “The JV would also build specialised AI tools to support teams to work smarter and faster, helping build data and AI fluency across Telstra’s workforce, and fast-tracking the development of future-critical skills.”
Telstra to Benefit from Accenture’s AI Investment
“As part of the JV, Telstra would benefit from Accenture’s USD 3 billion AI investment in assets, industry solutions, ventures, acquisitions, talent and ecosystem partnerships, with access to the latest innovation in AI technologies and AI teams in Silicon Valley,” Accenture said.
The proposed seven-year joint venture, which requires approval from Telstra’s employees and unions, would offer positions to Telstra’s main Data and AI staff in Australia and India, with the promise of roles at Telstra after the venture concludes.
Telstra CEO Vicki Brady said the JV would leverage Accenture’s global expertise to scale AI responsibly and at pace, which would help Telstra deliver seamless connectivity and better experiences for customers.
“We’ve made strong progress on our AI goals and already have hundreds of value-driving AI use-cases across the business. This includes generative AI tools built in-house, like AskTelstra and One Sentence Summary, which are helping our people support customers more effectively and efficiently,” Brady said.
“But our data and AI ambition goes well beyond introducing AI tools. It goes to the heart of what we do – connecting Australia, and Australians to the world. From building self-healing, resilient networks, to reinventing experiences for our customers and the way we work, AI will help power an exciting, connected future.”
“We will get there much faster and more efficiently by collaborating in an ecosystem of likeminded global leaders, leveraging each other’s strengths and accelerating innovation. Our strategic partnership with Microsoft and our joint venture with Quantium have been critical enablers in our AI journey so far, and this joint venture with Accenture will propel us into the next phase of our AI evolution.”
Julie Sweet, Chair and CEO of Accenture, said: “We are entering a new era of AI-driven reinvention. Leading companies across the world are embracing agentic AI and generative AI to reinvent themselves using the technology and new ways of working to drive productivity and growth.”
“We are proud of our long-standing collaboration with a visionary leader like Telstra, and committed to accelerating its bold AI fuelled business strategy, which will set new standards for the telecom industry.”
“We are also excited about combining our experience, talent and capabilities with Telstra’s to drive innovation and value for Telstra’s customers, people, and shareholders today and in the future.”
Vendor Consolidation
Telstra would also consolidate vendor support from 18 data and AI providers and partners down to two JVs – Quantium Telstra and the proposed joint venture with Accenture. This consolidation follows a similar effort in Telstra’s Software Engineering and IT division last year, which reduced its vendors from over 400 to two strategic partners, the official release said.
Some people read for free. A few choose to support. If you found TelecomTalk useful, you can help keep us running.
Support Telecomtalk
