U.S. Telecom operator Verizon Communications Inc. Said Wednesday it has entered into a new, multi-year, cloud computing deal with Google Cloud valued at over $1 billion.
The agreement expands on their existing partnership to help the telecom firm modernize its digital infrastructure and increase its adoption of artificial intelligence technologies.
It’s one of the largest enterprise cloud agreements announced so far this year. Verizon will relocate its networks operation as well as some of its business applications as well as data stores into the Google Cloud environment. It will deploy these through the use of the company’s analytic, security and AI technology.
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The pact aims to facilitate better customer service in addition to optimizing customer service, along with Verizon’s network operations as well as general business operations.
In essence, Verizon seeks to consolidate its IT systems through this digital infrastructure modernization effort and at the same time cut operating costs.
The collaboration also seeks to boost the use of Verizon’s Google generative AI technologies in automating customer support functions; identifying and curbing fraudulent transactions; managing traffic on the company’s extensive nationwide telephone and mobile networks; and streamlining the company’s software development processes.
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Both companies also state the partnership is anticipated to assist in expediting how rapidly Verizon deploys its new digital services along with enhancing its network integrity and reliability. Cloud players Google Cloud, a division of Alphabet, amazon web services, a part of amazon.com, and Microsoft Corporation have seen the demand for their powerful cloud computing services and associated artificial intelligence services in all sectors.
For the google, it represents a successful expansion of its market share in its target area – business cloud services.
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Experts believe the partnerships illustrate what telcos will increasingly depend upon and use cloud computing alongside artificial intelligence to rebuild the network structure in order to curtail expenses, streamline processes and roll out their new internet-enabled products which, given that consumer standards as well as technology progress quickly, are what their users and business clients anticipate.
