Shares in Telstra are up about 20 per cent since the start of the year. The company provides retail mobile services to 22.5 million customers.
In May, Brady unveiled Telstra’s new five-year strategy alongside price rises for most of the company’s mobile and internet plans of between $3 and $5 per month.
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The strategy, dubbed “Connected Future 30”, emphasises an increased reliance on artificial intelligence processes and data centres, amid what Brady described as “unrelenting” demand for data and connectivity. The strategy aims to lift returns from 8 per cent to 10 per cent annually.
Brady flagged with investors, however, that Telstra’s embrace of AI could result in job cuts.
“Our workforce will look different in 2030 as we develop new capabilities, find new ways to leverage technology – including AI – and we have to stay focused on becoming more efficient,” she told investors in May.
“We will need to continue to evolve, and our commitment is to always be transparent with our employees and act with care once we are clear on specific changes… We don’t know precisely what our workforce will look like in 2030, but it will be smaller than it is today.
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“The environment that we’re competing in is fast changing, so we must move fast too.”
Chief financial officer Michael Ackland told investors that Telstra was “leaning in hard” on artificial intelligence opportunities.
“We spend over $2 billion per annum in operating costs across activities from sales to contact centres, activation, billing and customer management. And we think AI will revolutionise these activities.”
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