Telefonica CEO Says AI to Drive Growth Over Next Three Years (1)

Telefonica SA’s Chief Executive Officer and Chairman José María Álvarez-Pallete said 15% of the company’s growth over the next three years will come from applying artificial intelligence.

“There’s a very clear, tangible impact of deploying AI,” he said at Bloomberg’s Future of Finance event in Madrid on Wednesday, adding that the technology was helping Telefonica retain customers and better predict network traffic.

The deployment of AI has helped Telefonica reduce its churn rate, the percentage of customers who leave, to its lowest level in 20 years, Pallete said. The company is able to predict which households are likely to ...