Foreword 3

Executive summary 4

1 Industry narrative and the AI opportunity 5

2 Three strategic pathways for CSPs 7

2.1 Overview of the three strategic pathways 7

2.2 Strategic plays for the modern telco to protect the core connectivity business 9

2.3 Strategic plays for the AI techco to grow through AI-powered managed services 12

2.4 Strategic plays for the national sovereign champion to activate resilience 15

3 Pathway enablers 19

4 Prioritization: assessing value and feasibility 21

5 Conclusion 22

Appendix 23

　A1 Value and feasibility assumptions 23

Contributors 26

Endnotes 28