Reliance AGM 2023: Mukesh Ambani envisions AI-led transformation & blockchain-based financial solutions for India
Mukesh Ambani outlines AI focus at Reliance AGM 2023. Jio to lead in India-specific AI, commits to sustainable computing. Jio Financial Services aims for a payment revolution with blockchain, CBDC.
Highlights
- Mukesh Ambani emphasises AI's pivotal role in fostering innovation and growth, with Jio at the forefront of India-specific AI solutions
- Reliance commits to a robust 2,000 MW AI-ready computing capacity, prioritising sustainability while meeting AI's computational demands
- Jio Financial Services (JFS) leads digital payments evolution with blockchain and CBDC solutions, reshaping India's financial landscape
During the 46th Annual General Meeting of Reliance Industries Limited (RIL), Chairman Mukesh Ambani delved into the transformative potential of AI on a global scale. He underscored the imperative of harnessing the power of AI to foster innovation, stimulate economic growth, and steer India towards prosperity.
Mukesh Ambani expressed his vision for Jio to spearhead the development of AI solutions tailored specifically for India. Mukesh Ambani's words resonated, "Within the RIL Group, we are swiftly bolstering our talent pool and capabilities to seamlessly assimilate the latest breakthroughs in AI, with a particular focus on the recent strides made in generative artificial intelligence."
He articulated Jio platforms' mission to lead the charge in crafting AI models customised for India's unique context and needs. These AI-powered solutions are aimed at transcending various domains and extending the benefits of artificial intelligence to Indian citizens, businesses, and the government, in equal measure.
Jio Financial Services (JFS) to leverage blockchain & CBDC for digital payments
Underpinning India's ascending global stature, Mukesh Ambani spotlighted the country's abundant scale, data resources, and talent pool. However, he shed light on the essential requirement of AI-ready digital infrastructure capable of accommodating the substantial computational demands intrinsic to AI technologies.
As the AI sector burgeons, we stand unwavering in our commitment to establish a formidable 2,000 MW AI-ready computing capacity. This capacity will be strategically distributed across cloud and edge locations. Importantly, our efforts will be underpinned by sustainable practices and a resolute commitment to shaping a greener future
In the realm of payments, Mukesh Ambani emphasised that JFS (Jio Financial Services) will play a pivotal role in offering ubiquitous solutions for both consumers and merchants. This move is poised to accelerate digital adoption across the nation.
He also revealed that JFS products are set to explore cutting-edge features such as blockchain-based platforms and Central Bank Digital Currencies (CBDCs), adding further layers of innovation to the digital financial landscape.
In sum, Mukesh Ambani's address at the RIL AGM not only highlighted the game-changing potential of AI but also underscored Reliance's proactive role in ushering India into an era of AI-driven innovation. This is paired with the company's commitment to pioneering transformative changes in the financial sector, all while maintaining a steadfast dedication to sustainability and technological advancement.
