2017 Annual Report | Verizon Communications Inc. and Subsidiaries 7 talk about giving people the ability to do more, it’s about something even bigger than these transformative advances in entertainment and communication. It’s about something we call “humanability,” a word that describes our commitment to expanding the possibilities of people everywhere – at home, at work, in their communities and around the world. This commitment cuts across geographical divides and sectoral categories. It’s about spreading the benefits of technology to where they’re needed most. For example, the economic impact of information technology has appeared mainly in traditional “digital” industries – telecom, media, software, and other tech-related fields whose business models have adapted quickly to new demands and opportunities. For many “physical” industries – such as transportation, agriculture and manufacturing — the immense potential of mobile and digital technology remains largely unrealized. This is where our growing role in IoT comes into play. In 2017, Verizon launched the industry’s first nationwide IoT-friendly, LTE network which extends battery life while offering enough bandwidth for communication. Our future 5G networks will enable deployments on a much larger scale. Currently, it’s estimated some 8.4 billion connected “things” are in use, an increase of 31 percent from 2016. That number is expected to reach more than 20.4 billion by 2020. Our networks will power much of that growth, and we look forward to giving businesses and consumers the ability to do more through this powerful Fourth Industrial Revolution technology. One important related field is telematics — the transmission of information to vehicles and other remote objects. This is a fast-developing sector, one that will profoundly influence supply-chain logistics, fleet management and vehicular design. In 2016 we bolstered our telematics presence through the acquisitions of Telogis and Fleetmatics. Verizon is now the world’s top provider of fleet-management technologies for businesses large and small. In 2017 our revenues from IoT services, including telematics, grew organically by double-digit percentage rates year over year, with great promise for the future. A higher calling Our goal has always been to improve lives through innovation. As we help build the Fourth Industrial Revolution, we are establishing partnerships with forward-thinking innovators across numerous sectors – including government, education, agriculture and healthcare – to expand opportunity and improve human well-being in an era of unprecedented connectivity. This is the higher calling that has attracted some of the world’s best, most diverse talent to become part of the Verizon team. The combined spirit and creativity of our employees makes Verizon a great place to work, learn and grow – and make a positive contribution to society. For example, we worked hand-in-hand with first responders in communities of all sizes to aid recovery from hurricanes, wildfires, floods and other natural disasters that struck throughout the year. Beyond this, in 2017 we donated $75 million to disaster recovery and community projects throughout the U.S. and Puerto Rico. Our employees ran to crises this year, and generously assisted one another through our employee-to-employee VtoV emergency aid fund. In addition, Verizon employees ensured that emergency personnel and residents in disaster areas were able to rely on our network when they needed it most. I am deeply proud of every member of our V Team who contributed to these efforts, whether in the form of expertise, financial donations, or simply reaching out to colleagues and neighbors. And our employee commitment to serving our communities doesn’t stop there. Every day of 2017, our V Team made it a mission to connect our customers to life’s victories, struggles, and people who matter most. From our front- line to our corporate employees, V Teamers answered the call this year, delivering the promise of the digital world to Officilla cullant as que intio. Elitemo loratione nulleseque ma non et, commoluptiae cus.
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