Reliance Industries Ltd (RIL) chairman Mukesh Ambani told the shareholders on Thursday that the company was bringing AI and deep tech into the core of its operations.
He outlined ambitious plans for Jio — which he said, is now a true deep-tech innovator with a fully homegrown 5G stack.
Jio is developing a suite of tools and platforms that span the entire AI lifecycle.
‘Jio Brain’ is expected to enable the acceleration of AI adoption across its digital services, driving faster decisions, more accurate predictions and better understanding of customer needs.
Jio is also using the facility to drive a similar transformation across other Reliance operating companies.
Ambani said Jio will use its AI capabilities on focussed targeting of customers to sell JioAirFiber, the 5G home broadband kit that was launched in October.
JioAirFiber had 1 million users in the first six months, reached the next million in 100 days, and the Reliance chairman is targetting to reach the next million in 30 days.
“With this momentum, we are confident of reaching our target of 100 million home broadband customers at record speed. We are also targeting over 20 million small and medium businesses,” Ambani said.
Jio users will also get up to 100 GB of free cloud storage: the JIO AI-Cloud Welcome is set for Diwali launch.
The RIL chairman said this service will be offered at the ‘most affordable’ prices for those needing even higher storage.
“We are committed to democratising AI, offering powerful AI models and services to everyone in India at the most affordable prices. To achieve this, we are laying the groundwork for a truly national AI infrastructure.
“We plan to establish gigawattscale AI-ready data centres in Jamnagar, powered entirely by Reliance’s green energy, reflecting our commitment to sustainability and a greener future.” he said
Ambani disappointed a section of the market since he did not announce the listing of its digital services and retail businesses.
However, three out of the five growth engines of Reliance — oil-to-chemical (O2C), retail, Jio, media, green energy & fuels have a valuation of over $100 billion each.
“Jio and Retail are expected to double their revenues and EBITDA (earnings before interest, taxes, depreciation & amortisation) in the next three-four years,” Ambani said.
“I see immense growth potential in our media business. Our new energy business will be the new jewel in Reliance’s crown. I foresee it becoming as big and profitable over the next 5-7 years, as our O2C business, which we have built over the past 40 years.”