Telstra and Accenture have announced a proposed joint venture aimed at enhancing Telstra's data and artificial intelligence initiatives.

The ownership structure of the joint venture will allocate 60% to Accenture and 40% to Telstra.

Telstra CEO Vicki Brady emphasized that this joint venture marks a significant step in Telstra's AI evolution, building on previous collaborations with Microsoft and Quantium.

Tech executives predict that technologies like AI and automation will be crucial for enhancing operational efficiencies and could generate $115 billion in value by 2030.

As part of this venture, Telstra plans to invest $100 million annually for seven years, pending consultations with employees and unions.

The investment in the joint venture aims to improve business processes and enhance operational efficiency through AI.

As part of its strategy, Telstra will reduce its vendor support from 18 data and AI providers to two joint ventures: one with Accenture and the other with Woolworths-owned Quantium.

Telstra's existing Data & AI workforce in Australia and India will be offered positions in the joint venture, with potential roles at Telstra available after the venture concludes.

Brady also highlighted the goal of this initiative, which extends beyond merely introducing AI tools, aiming to enhance Telstra's mission of connecting Australians globally.

Accenture's CEO Julie Sweet noted that leading companies worldwide are increasingly adopting generative AI to transform operations and drive productivity.

In a related move, Macquarie has announced an investment of up to $5 billion in data centers, reflecting growing investor interest in AI.

The 2025 Australian Tech Leaders survey identifies AI as the leading trend, with expectations that it will improve Australia's productivity and create 200,000 jobs by 2030.