Telstra and Accenture (ACN) announced a proposed joint venture aimed at rapidly advancing Telstra's data and AI strategy. This collaboration seeks to enhance Telstra's network leadership, boost customer experience, and improve the efficiency and effectiveness of its teams.
The companies noted that 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.
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.
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.
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.
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