Vodafone noted that the new unit will utilize Accenture’s technology and transformation services such as its digital solutions and platforms, as well as its expertise in the AI field
U.K.-based Vodafone Group announced its intention to create a strategic partnership with Accenture with the main aim of commercializing Vodafone’s shared operations.
The strategic partnership will build on Vodafone’s shared services unit, Vodafone Intelligent Solutions, to create a commercially driven and more efficient organization with high quality services and enhanced speed to market for its portfolio of offerings, the U.K. telco said. Under this partnership, Vodafone will retain majority interest, management control and sourcing decisions.
Vodafone noted that the new unit will utilize Accenture’s technology and transformation services such as its digital solutions and platforms, as well as its expertise in the AI field. Accenture will invest around €150 million ($183.6 million) for a minority stake in the partnership.
“Today’s announcement is a significant development for Vodafone as we change and simplify the way we work to better serve our customers and drive growth,” said Margherita Della Valle, group CEO at Vodafone. “The partnership with Accenture opens up new opportunities for our company and our people. We’re excited about the potential of our new commercial shared services organization and the potential to serve not only Vodafone’s own markets but our telco partners across the industry.”
“We are proud to have partnered with Vodafone for over 20 years across many strategic programs. We are excited to take our partnership to a new level with this ground-breaking joint venture that will help power Vodafone’s reinvention and create significant value for their operating companies, partner markets and employees,” said Julie Sweet, chair and CEO at Accenture.
Vodafone and Accenture have signed a Memorandum of Understanding (MoU) to define the scope of the new agreement. The new partnership is subject to completion of the definitive agreements, which are expected to be completed in the spring of 2024.
In June, Accenture had announced a $3 billion investment over three years in its Data & Artificial Intelligence (AI) practice to help clients across all industries “rapidly and responsibly” advance and use AI.
Accenture noted its AI expertise already spans more than 1,450 patents and pending patent applications worldwide and hundreds of client solutions for different sectors including marketing, retail, security and manufacturing.
The company also said it is currently working with many clients on generative AI projects, such as helping a hotel group manage customer queries or a judicial system synthesize judicial process information across hundreds of thousands of complex documents.
As part of the committed investment in AI, Accenture plans to invest in assets, industry solutions, ventures, acquisitions, talent and ecosystem partnerships. The Data & AI practice will double its AI talent to 80,000 professionals through a mix of hiring, acquisitions and training.
Accenture also explained its new AI Navigator for Enterprise is a generative AI-based platform that will help clients define business cases and choose architectures. The platform will include assets designed to accelerate responsible AI practices and compliance programs, Accenture said.
Accenture will also create accelerators for data and AI readiness across 19 industries as well as pre-built industry and functional models that take advantage of new generative AI capabilities.
