Verizon CEO Dan Schulman is not backing down from the rapid rise of artificial intelligence (AI), and has said that the telecom giant is already utilizing Mythos, the powerful new AI model from Anthropic, to reshape how the company operates by integrating AI.Speaking at the Semafor World Economy conference recently (via Bloomberg), Schulman said: “It’s just a fact: living in the age of AI, it’s going to change everything.” While some business leaders view advanced AI with hesitation, Schulman’s stance is clear: “If you’re scared of it, that’s problematic. You need to embrace it for all that it is.”
‘Need more than just a network’
For years, Verizon has leaned on its reputation for having the most reliable wireless network in the US. However, Schulman warned that “network superiority” is no longer enough to win the war against rivals like T-Mobile and AT&T, Bloomberg reported.“We probably do have, objectively speaking, the best network, but the differential on that is less than it used to be,” Schulman admitted, pointing out that his new strategy focuses on improving the human experience, rather than just technical specs.The CEO outlined a plan to simplify promotions, including ending confusing deals that frustrate customers. He also wants to make it easier for users to understand what they are paying for.“You have to treat people like humans, not like accounts,” he noted.
Verizon’s $20 million bet on retraining
Recognizing the boom of AI, Verizon has established a $20 million retraining fund. This initiative is designed to help employees affected by layoffs find new career paths in the AI era. Schulman has also issued a challenge to his fellow Fortune 100 CEOs on Wednesday, urging them to make similar financial commitments to AI retraining.“Living in the age of AI, it’s going to change everything,” Schulman said. Schulman turned down the CEO position twice from his Montana ranch before finally agreeing to take the helm in October. His turnaround strategy has involved “hard decisions and a lot of very honest but somewhat brutal conversations,” Schulman said.Just before Christmas, Verizon laid off over 13,000 employees – roughly 20% of its non-union workforce. Schulman described these as “hard decisions”.
