The Spanish telco, which has 350mn customers in 17 countries, has focussed its programme on what it calls its three enablers: Big Data and innovation, end-to-end digitalisation and capital allocation and simplification.
Addressing 125,000 employees in Madrid, José Álvarez-Pallete believes his company musn't take its foot off the gas if its to remain at the forefront of digital innovation in the industry.
"We have to promote our plan to continue leading the digital transformation," he said. "The technological world is moving increasingly faster and digital platforms will generate a growth in traffic and services that years ago were unthinkable, especially because due to the impact of AI applied to those platforms.
"A new revolution that is clearly going to happen, through the smartphone, which will require flexible and intelligent networks that enable us to meet the demand of our customers in real time.
"The new digital wave is going to have a greater impact than what we sensed two years ago. We have been pioneers in digitising the company, but we can't be complacent. Customer-focused digitalisation and values will be the key to our leadership."
Telefónica now has over 1.5mn kilometres of optical fibre in Europe, the largest amount of any competitors on the continent, an is aiming to reach a further 20mn customers by 2020 by another million kilometres.
"We’ve accomplished an ambitious digitisation process that is focused on the customer, leaving the company prepared to face the new wave of technology," added Álvarez-Pallete.
"We’ve demonstrated that we are pioneers and that the direction we have chosen is the right one. We aspire to be a company that continues to grow and is increasingly significant to the lives of our customers and within the digital ecosystem."