Telstra to Invest $700 Million in AI Through Joint Venture

Through a new joint venture with global consultancy firm Accenture, Telstra is set to invest $700 million in artificial intelligence (AI) capabilities. The initiative will see Telstra allocate $100 million annually over seven years, focusing on streamlining operations and enhancing customer experiences with specialised AI tools.

This represents one of the largest AI investments by an Australian company, with Telstra consolidating its current data and AI providers from 18 to just two. According to CEO Vicki Brady, the project will enable smarter, faster work processes and support innovations like self-healing networks and redefined customer interactions.

Accenture will hold a 60% stake in the venture, with its CEO Julie Sweet emphasising the potential to drive value for Telstra’s customers, employees, and shareholders.

This move aligns with growing AI adoption across industries, as highlighted by the Tech Council of Australia, which predicts AI could generate $115 billion in economic value and create 200,000 jobs by 2030. Telstra’s commitment to ethical AI is further evidenced by its involvement in a UNESCO business council focused on responsible AI development.