Telstra unveiled plans to forge a JV with consultancy Accenture to improve its AI capabilities and streamline operations over a seven-year period, a move Australian Financial Review reported would involve the operator making an AUD700 million ($434.6 million) investment.
The venture would be 60 per cent owned by Accenture, though its formation is subject to consultation with employees and unions, the newspaper wrote.
Kim Krogh Andersen, Telstra’s product and technology group executive, noted on LinkedIn the venture would bring together specialists from the companies’ data and AI teams, taking advantage of a $3 billion investment scheme Accenture detailed in 2023.
Andersen added the company is looking to “completely reinvent our business and our processes, allowing teams to work in an ecosystem of intelligent AI agents, optimising key tasks end-to-end”.
Startup Daily reported Telstra’s goal is to reduce vendor numbers from 18 data and AI providers and partners to two: a deal with Quantium forged in 2022 and the JV with Accenture.
During MWC Barcelona 2024, Telstra CEO Vicki Brady said an ambition for it to become an AI-powered organisation and leader in Australia would only be achieved through collaborations.
In 2024, Telstra became the first company in Australia to join UNESCO’s Business Council to promote the ethical use of AI.
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