Reliance's $150 Billion Decade of Innovation Redefining Growth
Unleashing AI Revolution, Reliance's Pledge of 'AI to Everyone, Everywhere
29 August 2023
RIL's Chairman Mukesh Ambani proudly announced a remarkable investment of over $150 billion in the last decade during the 46th AGM, solidifying the company's position as India's largest investor and a global player.
Ambani highlighted RIL's shift from technology consumer to producer, enabler, and democratizer, mirroring the audacious spirit of the new India and showcasing unmatched technological capabilities.
RIL's subsidiary, Jio Platforms, pledges to lead India's AI innovation by creating tailored AI models. Ambani's commitment to "AI for everyone, everywhere" echoes previous broadband promise, emphasizing sustainable AI-ready capacity and a greener future.
Reliance Industries Limited (RIL), under the visionary leadership of Mukesh Ambani, has carved an unparalleled path of growth and innovation in the Indian corporate landscape. During the 46th Annual General Meeting, Ambani proudly announced that RIL has surpassed all records, having invested a staggering $150 billion over the last 10 years. This investment not only solidifies RIL's position as India's largest corporate investor but also places it on par with global giants. Ambani's humility shines as he credits the success to a collective vision of a new-age Reliance, one that pioneers technology with unmatched capabilities.
In his address, Mukesh Ambani eloquently described the transformation of Reliance into a true technology powerhouse. He highlighted how the company has shifted from being a technology consumer to becoming a technology producer, enabler, and democratizer. This transition resonates with the essence of the new India – confident, ambitious, and unyielding. Ambani's words reflect the spirit of an India that sets audacious goals and defies the odds to achieve them.
Amid the geopolitical uncertainties and economic challenges that surround us, Ambani's faith in India's rise as a global leader remains unshaken. He emphasized India's resilience and tireless spirit, envisioning the nation's ascent in an increasingly multi-polar world. As a testament to his unwavering commitment, Ambani announced his continuation as the Chairperson and Managing Director of RIL until 2028.
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One of the most significant announcements made by Ambani is RIL's ambitious foray into Artificial Intelligence (AI). Jio Platforms, a subsidiary of RIL, aims to spearhead India's journey into AI innovation by developing India-specific AI models and solutions. Ambani's promise of "AI to everyone, everywhere" echoes his previous commitment to providing broadband connectivity across India. This time, the pledge is to deliver the benefits of AI to every citizen, business, and government entity. His plan to create substantial AI-ready computing capacity while prioritizing sustainability showcases RIL's dedication to shaping a greener future.
In a move that emphasizes continuity and generational leadership, RIL welcomed Isha Ambani, Akash Ambani, and Anant Ambani to the company's board as non-executive directors. These young leaders have played pivotal roles in managing key businesses, such as retail, digital services, energy, and materials. This strategic move ensures that RIL continues to evolve and innovate, keeping pace with the dynamic business landscape.
As Nita Ambani steps down from the board to focus on strengthening the Reliance Foundation, her dedication to social transformation remains steadfast. The foundation's commitment to empowering marginalized communities reflects RIL's holistic approach to growth, where societal progress aligns with corporate success.