Verizon CFO on turning AI into a revenue source to drive future growth

Core Insights - Verizon views AI as a potential new revenue engine, not just a tool for efficiency [1] - The company is repurposing its wireline network to support AI workloads, leveraging existing infrastructure [2][3] - Verizon's AI initiative, called Verizon AI Connect, aims to serve large tech companies with custom AI infrastructure [3][4] AI Infrastructure Development - Verizon is testing ways to utilize its central offices, which have been freed up by the transition from copper to fiber networks, for AI processing [2] - The company has a billion-dollar sales funnel that has doubled in potential opportunity, indicating strong demand for AI services [4] Internal AI Utilization - Verizon is implementing AI internally to enhance efficiency in customer service and network operations [5][6] - AI is being used for customer plan personalization, faster support for agents, and improved network optimization [5][6] Long-term Strategy and Investment - The transition to AI services is seen as a medium- to long-term exercise, with larger deals taking time due to customization needs [4] - Verizon has invested approximately $200 billion over the past seven years to strengthen its wireless spectrum and networks, spending around $17-18 billion annually [8]