SYDNEY--(BUSINESS WIRE)--Jan 15, 2025--
Telstra and Accenture (NYSE: ACN) today announced a proposed joint venture (JV) to rapidly accelerate Telstra’s data and AI roadmap to further extend its network leadership, improve customer experience, and help its teams operate more efficiently and effectively.
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Steered by joint global leadership, the JV would comprise specialists from Telstra and Accenture’s Data & 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.
As part of the JV, Telstra would benefit from Accenture’s $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.
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 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.
The proposed seven-year JV is subject to consultation with Telstra’s employees and unions. Telstra’s core Data & AI workforce, based in Australia and India, would receive an offer to join the JV. At the end of the seven-year term, JV employees would be offered a role at Telstra. The JV is expected to become more efficient and streamlined as the acceleration of Telstra’s data and AI roadmap is delivered.
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,” Ms 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, 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.”
As part of these changes, Telstra would 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 would drive deeper strategic partnership, shared accountability, and enable further acceleration in data and AI. It follows Telstra’s Software Engineering & IT division consolidating its partners last year, which saw it move from more than 400 vendors to two strategic partners, streamlining operations, reducing complexity and delivering efficiencies.
The proposed JV would be 60 per cent owned by Accenture and 40 per cent Telstra, with Telstra retaining control over its data and AI strategy and roadmap, which the JV would help deliver.
About Accenture
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services - creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 799,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. Our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at accenture.com.
About Telstra
Telstra is Australia’s leading telecommunications and technology company. We offer a full range of services and compete in all telecommunications markets in Australia, operating the largest mobile and wi-fi networks. Globally, we provide end-to-end solutions including managed network services, global connectivity, cloud, voice, colocation, conferencing and satellite solutions. We have licenses in Asia, Europe and the United States and offer access to more than 2,000 points of presence across the globe. For more information visit www.telstra.com
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Julie Sweet, Chair and CEO, Accenture and Vicki Brady, CEO, Telstra (Photo: Business Wire)
