Mukesh Ambani, the chairman of Reliance Industries, stated on Thursday that he wants the company to lead the way in developing artificial intelligence solutions for India’s pressing needs in the areas of healthcare, education, agriculture, and employment.
The 66-year-old stated that Reliance “needs to be at [the] forefront of using data, with AI as an enabler for achieving a quantum jump in productivity and efficiency” as it reinvents itself to become a cutting-edge technology business.
Over the past ten years, Mukesh has spearheaded Reliance’s transition from a conventional energy and materials company to a technology company with the introduction of its digital and telecom services.
Dhirubhai Ambani, the father of Mukesh, founded Reliance in 1957. With a market value of over $200 billion, the company currently engages in the telecom, digital services, retail, oil and gas, and new energy sectors.
In September, Reliance inked a contract with American semiconductor company Nvidia to collaborate on cloud infrastructure, language models, and generative applications in order to further its AI goals. During his year-end speech to staff members on Thursday, Mukesh pushed them to implement AI-driven change by 2024 in the company’s major growth areas, which include digital services, retail, the oil and chemical industry, health, and life sciences.
Adani Group, a rival of Reliance, also said on Thursday that it has established a joint venture with an International Holding Co. (IHC) entity located in Abu Dhabi for the implementation of blockchain, AI, and Internet of Things (IoT) goods. The joint venture wants to take advantage of India’s $175 billion digitization potential.
