Telstra and Accenture have announced plans to form a joint venture designed to accelerate Telstra's data and AI initiatives. This partnership is intended to strengthen Telstra's network leadership, enhance customer experiences, and increase operational efficiency.
The joint venture will bring together experts from Telstra and Accenture's Data & AI teams to continue developing a high-caliber data and AI environment, advance their data and AI infrastructure, and integrate responsible AI practices from the outset.
Under this arrangement, Telstra will leverage Accenture’s $3 billion AI investment, which includes resources, industry solutions, ventures, acquisitions, talent, and partner ecosystems. This will give Telstra access to the latest advancements in AI technologies and expert teams based in Silicon Valley.
The proposed seven-year joint venture is pending consultation with Telstra’s employees and unions. Employees from Telstra’s Data & AI divisions in Australia and India will be invited to join the new venture, and, upon the conclusion of the joint venture, will be offered roles back at Telstra.
Additionally, Telstra plans to streamline its vendor support, reducing its reliance on 18 providers and partners to just two joint ventures: Quantium Telstra and the proposed venture with Accenture.
The joint venture will see Accenture owning 60%, while Telstra will hold a 40% stake, but Telstra will maintain oversight of its data and AI strategies, ensuring the joint venture supports their objectives.
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