Amsterdam, Dubai and Kyiv, 02 December 2024 – VEON Ltd. (Nasdaq: VEON), a global digital operator ("VEON" or the "Company"), announces the launch of a generative AI lab by Kyivstar in partnership with Amazon Web Services (AWS). This initiative will help Ukrainian enterprises introduce AI technologies with the aim to enhance business processes and contribute to the country's long-term economic recovery.
Harnessing the power of AWS cloud solutions, the new lab will deliver AI services, such as text and visual content generation, augmented intelligence-based chatbots, virtual assistants, and more. These tools will help to enhance operational efficiencies for Ukrainian businesses, create competitive advantages and support long-term growth.
"Generative AI has the potential to be a transformative force for the efficiency and competitiveness of Ukraine's enterprises. It will also play a pivotal role in driving economic growth as part of Ukraine's long-term recovery," said Oleksandr Komarov, CEO of Kyivstar. "Our successful partnership with AWS has bolstered our expertise in data processing and analysis. The launch of this generative AI lab represents the next step in delivering innovative augmented intelligence and cloud services to our business customers."
In addition to serving Ukrainian enterprises, Kyivstar and Kyivstar Tech will also offer services like cloud migration and analytics to international markets, building up Ukraine's technology export capacity.
This partnership builds on the December 2023 collaboration between Kyivstar and AWS, which focused on accelerating cloud migration, enhancing data storage solutions, and strengthening cybersecurity in addition to the migration of Kyivstar's own data management platform to the AWS cloud.
As part of its commitment to Ukraine's recovery, VEON and Kyivstar recently announced a five-year (2023–2027), USD 1 billion investment plan at the Ukraine Recovery Conference in Berlin. This significant increase from the previously announced USD 600 million will fund network and digital service expansion, potential acquisitions, social initiatives, and partnerships. Kyivstar was recognized as the top international investor in Ukraine in 2022 and 2023 by Forbes Ukraine and New Voice of Ukraine.
About Kyivstar
Kyivstar is the largest telecoms operator in Ukraine with over 23 million mobile subscribers and over 1 million home internet subscribers. As Ukraine's market-leading operator, the company has maintained network availability of above 90% on average since February 2022, supporting the connectivity of not only its own customers but also the broader Ukrainian population. Kyivstar is 100% owned by the VEON Group.
About VEON
VEON is a Nasdaq-listed digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. For more information visit: .
Disclaimer
This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON's investment plans, digital products, business plans and commercial partnerships. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact Information
VEON
Hande Asik
Group Director of Communication
pr@veon.com
MHP Group
Julian Tanner
Julian.Tanner@mhpgroup.com
