TELUS International (Cda) Inc. Subordinate Voting Shares - TIXT STOCK NEWS

TELUS has joined the U.S. AI Safety Institute Consortium (AISIC), becoming the first Canadian telecom to participate in this initiative aimed at developing safe and trustworthy AI. The consortium, established by the U.S. Department of Commerce's National Institute of Standards and Technology, includes over 280 leading AI stakeholders from various sectors. TELUS's involvement underscores its commitment to responsible AI development and deployment.

TELUS has been a pioneer in AI ethics, recently launching a generative AI customer support tool that became the first in the world to be internationally certified in Privacy by Design (ISO 31700-1). The company also won an Outstanding Organization 2023 prize from the Responsible AI Institute and is the first Canadian telecom to sign the Government of Canada's voluntary code of conduct for generative AI.

TELUS International, soon to rebrand as TELUS Digital Experience, is revolutionizing customer support with GenAI-powered asynchronous messaging. The company has developed TELUS Expert Messaging, a 24/7 support tool integrated into the My TELUS app, eliminating wait times associated with traditional customer service channels.

This innovative solution, built on Amazon Web Services (AWS) using Local Measure's Engage platform, combines AI efficiency with personalized human support. It allows customers to start, pause, and resume conversations at their convenience, while enabling providers to triage queries effectively.

The system prioritizes data privacy and ethical standards, incorporating Privacy by Design principles. TELUS Expert Messaging is currently available in English, with a French version planned for Q4. This development aligns with TELUS' strategy to differentiate itself through premium digital experiences and responsible digital transformation.

TELUS Digital reported its Q2 2024 results, showcasing strong cash flows despite macroeconomic pressures.

Revenue decreased by 2% year-over-year to $652 million due to lower revenues from a leading social media client. Net loss was $3 million with a diluted EPS of $(0.08). However, Adjusted Net Income increased by 5% to $46 million, and Adjusted EBITDA rose by 10% to $130 million.

Full-year 2024 guidance has been revised: revenue between $2,610-$2,665 million, Adjusted EBITDA $465-$485 million, and Adjusted Diluted EPS $0.39-$0.44.

Key executive changes include Jeff Puritt's retirement as CEO, with Jason Macdonnell as Acting CEO, and Tobias Dengel elevated to President of TELUS Digital Solutions.

Notable achievements include growing AI-related business accounting for ~15% of total revenue and new contracts with prominent clients. Cash flows remain strong, supporting debt repayment and reinvestments.

TELUS reported its Q2 2024 results, highlighting a 13% increase in net income to $221 million and a 7.1% rise in EPS to $0.15. The company's consolidated EBITDA rose by 5.5% to $1.7 billion, while adjusted EBITDA saw a 5.6% increase to $1.8 billion. Key drivers included subscriber growth in mobile, internet, and security services, alongside efficiency improvements and cost reductions.

Customer additions reached a record 332,000, with notable contributions from 101,000 mobile phones and 161,000 connected devices. TELUS Health and TELUS Agriculture also showed strong performance, with healthcare lives covered increasing by 10% to 75.1 million and agriculture revenue up by 15%.

Despite a competitive environment, TELUS maintained its guidance for capital expenditures at $2.6 billion but revised its free cash flow forecast to $2.1 billion. The company continues to focus on driving margin-accretive customer growth and operational efficiency.

TELUS Digital Experience (NYSE and TSX: TIXT) has launched Fuel EX, an enterprise-safe generative AI employee assistant built on their Fuel iX engine. Fuel EX offers access to over 20 large language models from multiple vendors, supporting tasks like knowledge searches, summarization, and code writing. It addresses security concerns by keeping data secure and maintaining proprietary information integrity.

Key features include:

• Trust: Secure data storage and privacy options
• Flexibility: Access to diverse AI models and customization
• Control: Usage monitoring and permission management

Currently used by 35,000 TELUS employees, Fuel EX aims to enhance productivity while ensuring data safety for large-scale enterprises.

TELUS International, soon to be rebranded as TELUS Digital Experience (NYSE and TSX: TIXT), has announced the release of its second quarter 2024 financial results on August 2, 2024. The company will host an investor conference call on the same day at 10:30 a.m. (ET) / 7:30 a.m. (PT) to review the results and conduct a Q&A session with pre-qualified analysts. A live webcast of the call will be available on the TELUS Digital Investor Relations website, with a replay accessible afterwards. This announcement comes as the company prepares for its rebranding in the third quarter of 2024.

TELUS International, soon to rebrand as TELUS Digital Experience, has made strategic hires to bolster its Fuel iX leadership team. Bret Kinsella joins as General Manager and Tim MacGregor as Vice President of Business Development, bringing a combined 50 years of AI and SaaS industry experience. These appointments aim to drive innovation in AI-powered customer experiences.

Fuel iX, TELUS International's proprietary GenAI engine, comprises two main solutions: Fuel iX Core for enterprise AI integration and administration, and Fuel iX Apps for GenAI application templates. Notably, Fuel iX Core recently powered the first GenAI customer support chatbot to receive international Privacy by Design certification (ISO 31700-1).

The company aims to accelerate enterprise adoption and optimization of GenAI capabilities, offering centralization, standardization, and flexibility across cloud and model providers.

Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, has been chosen by TELUS (TSX: T) (NYSE: TU) as its preferred ad technology solutions partner in Canada. TELUS will utilize Magnite's SpringServe ad server and Streaming SSP for its Free Ad-Supported TV (FAST) and online video advertising inventory. This partnership aligns with the growing trend of ad-supported streaming, as 74% of Canadian consumers now watch streaming TV. The collaboration aims to enhance TELUS's TV offerings at no additional cost to customers, while providing advertisers with better insights and control over their campaigns.

Magnite's technology will allow TELUS to manage and monetize its connected TV (CTV) inventory more effectively. TELUS has already deployed FAST channels like TIME, Tastemade, and The Washington Post to its TV+ customers, offering new opportunities for advertisers and agencies to connect with audiences. Both companies are excited about the potential to redefine the Canadian advertising landscape and deliver premium ad experiences to consumers and brands alike.

WillowTree, a TELUS International Company, conducted a global survey revealing key insights into consumer loyalty preferences for credit card reward programs across five regions: North America, Middle East–Africa, South America, Europe, and Asia–Pacific. The study underscores the necessity for financial brands to adopt personalized, data-driven customer segmentation strategies for loyalty programs. Key takeaways include the universal preference for mobile app engagement and popular redemption choices like cashback and essential goods. The survey highlights regional differences: North Americans prefer local redemptions, Middle East–Africa values transparency, South Americans appreciate savings on essentials, Europeans seek convenience, and Asia–Pacific values travel rewards. This research aims to help brands develop tailored loyalty programs to enhance customer retention and growth.