Verizon CEO Outlines AI Vision for the Future
At the 2024 World Economic Forum, Verizon’s CEO, Hans Vestberg, shared his vision for the company’s future focus on artificial intelligence (AI). He emphasized the importance of AI at the network’s edge to enable quick decision-making close to end users.
Verizon’s AI Strategy and Partnerships
Verizon is working on enhancing its AI offerings to best serve its customers and is collaborating with various players in the industry to achieve this. Additionally, European telecom giant Vodafone has announced a 10-year partnership with Microsoft to bring generative AI and other services to its consumers and businesses.
Shift in Focus and Expected Performance
Verizon is transitioning its focus from the saturated consumer market to the enterprise market, driven by increased demand for broadband services due to the growing need for online education, telehealth, and other remote services. The company’s upcoming quarterly results are expected to report a shift in earnings, with a greater focus on enterprise markets.