Australian telecommunications giants Telstra is set to go on a joint venture with Quantium, the data science, and AI solution frontrunners. The resulting company co-owned by both parties will emphasize the sale of automated and data-centric systems that’ll focus on better and easier decision-making. It will also look to prompt customers to use more analytics use cases.
This is not the first time this year that Quantium has started a joint mission. Before this one, the organization teamed up with the Commonwealth Bank Australia (CBA) to start a joint intelligence program in May.
At the helm of this deal is the incredible amount of trust put on Quantium by Telstra, as the telco is sure about the expertise and tooling capabilities of its new partners. The initial services regarding consumers and enterprises are already underway, along with internal use cases. Telstra has also identified a major upside for its operational customers, especially those in the initial production, industrial departments, and logistics.
After the announcement of the partnering up with Quantium, Telstra said in a statement:
“The joint venture will target mining, agribusiness, and supply chain where Telstra has a unique value proposition given its network assets and capability. This will see the creation of a unique, industry-leading ‘whole of tech stack’ proposition for these industrial customers, helping them automate quicker and make smarter and more accurate decisions right across their value chains, enhancing efficiency, reducing waste, and driving down environmental impacts.”
“The partnership will also leverage Telstra’s Data Hub to enable enterprise and government customers to securely share and aggregate their data whilst also harnessing Quantium’s big data capabilities,” the telco continued.
The telecommunications giants also indicated that it would integrate Quantium’s much-sought-after data holdings and solutions into Telstra Plus, the telco’s rewards program. This section will personalize different offers for the customers.
Andrew Penn, Telstra’s CEO, also talked to the media about the deal. He stated:
“Quantium’s technology will be valuable in helping Telstra to drive value for our core business – for example, to identify fraudulent activity more effectively, or to make enhanced credit decisions.”
Telstra and Quantium have both pledged themselves to work together in the next few months in order to establish the scope of the collaboration. They are also yet to finalize a name for the joint venture company. The hiring policies and other details will be confirmed by both parties soon.
