The JV will be 60% owned by Accenture and 40% by Telstra, an Australian technology and telecommunications company.

Telstra and Accenture have proposed a joint venture (JV) to accelerate the former’s data and AI roadmap to further extend its network leadership, improve customer experience, and help its teams operate more efficiently and effectively.

Accenture’s (ACN) stock gained more than 1% in after-market trading on Wednesday following the announcement of a global artificial intelligence (AI) joint venture with Australian telecommunications giant Telstra.

Telstra unveiled plans to invest AUD700 million to improve its AI capabilities and streamline operations via a JV with Accenture.

Telstra has announced a proposed AI joint venture (JV) with global consulting firm Accenture, in which Australia's largest telco would reportedly invest A$100 million a year over seven years for a total of A$700 million.

Telstra and Accenture have proposed a joint venture (JV) that will see the telecommunications provider ramp up its data and artificial intelligence (AI) roadmap. The JV will comprise a global leadership team that includes specialists from Telstra and Accenture’s data and AI teams,

Telstra and Accenture have announced a proposed joint venture to rapidly accelerate Telstra’s data and AI roadmap, extending its network leadership, improving customer experience, and enhancing operational efficiency.