Verizon Communications Betting Big on Artificial Intelligence as Next Growth Driver

Verizon Communications is making a bold move by betting big on artificial intelligence (AI) as its next major growth driver. The company, known as the largest retail wireless carrier in the United States, is looking to double its network over the next five years with the help of AI technology.

In a recent interview with Bloomberg, Verizon Consumer CEO Sowmyanarayan Sampath shared the company’s vision for AI as the future of its network growth. While video traffic has been a key driver for Verizon in recent years, Sampath believes that AI demand will soon surpass it. The increasing amounts of data generated by AI tools require efficient transmission, and Verizon aims to provide a robust network infrastructure to meet this demand.

Verizon has already started integrating AI software from Google into its customer service operations. This technology has empowered 40,000 customer relations agents to better serve customers by analyzing human sentiment and tone during calls. If a customer appears frustrated, a supervisor can intervene to assist, improving the overall customer experience.

Additionally, Verizon plans to leverage AI to offer personalized recommendations and curated offers to customers in real-time. The company has strategically positioned its infrastructure to handle the anticipated surge in AI-related traffic, investing in spectrum acquisition to support the increased demand for data transmission.

During a recent earnings call, Verizon CEO Hans Vestberg emphasized the company’s AI strategy and the need to create an AI-centric revenue stream by commercializing the company’s network’s mobile edge computing capabilities. Vestberg sees generative AI workloads as a great long-term opportunity for Verizon, making the company more efficient and competitive in the market.

Overall, Verizon’s focus on AI as a growth driver showcases its commitment to innovation and staying ahead in the rapidly evolving technology landscape. With strategic investments and partnerships, Verizon is poised to lead the way in leveraging AI for network expansion and customer service enhancements.