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How Verizon Utilizes Data and AI for Responsible Innovation

Data Analytics

Verizon's AI-Driven Data Strategy & Short-Term Investments

Business Honor
16 October, 2024

Verizon, in its strategic use of data and AI, fosters innovation while remaining within the ethics of the operations.

Verizon Communications Inc., a New York City-headquartered company in the field of telecommunication, was rewriting its innovation roadmap with the help of data, analytics, and AI. In December 2022, Verizon appointed Kalyani Sekar as Senior Vice President and Chief Data Officer to enhance its data strategy and bring responsible AI usage across its operations.

Sekar comments on making the comprehensive data fabric, integrating a variety of assets to speed insights and action in place of merely stating the empowerment of the broad data governance principle with AI. Verizon's initiatives are taking place in predictive analytics, prescriptive analytics, and generative AI. This would open the doors for the creation of new products and revenue streams.

The company's investment strategy is built across several lines: delivering business value over different time horizons. Short-term investments aim to optimize experiences through AI interactions with customers while determining the possibilities of new business opportunities that can lead to operational efficiencies.

Another focus of Verizon's is a data-driven culture, with the creation of an AI Council that will focus on ensuring AI best practice. The council will lead on AI strategy, adoption, and responsible innovation and ensure that all AI technologies aligned to the company's core values.

Through these efforts, Verizon seeks to differentiate and stand at the top against others within the telecommunications market, with emphasis on commitment to responsible AI practices.