New Delhi. Mukesh Ambani, the country’s veteran industrialist and Chairman and Managing Director of Reliance Industries Limited, announced on Thursday that his group will invest Rs 10 lakh crore in Artificial Intelligence (AI) within seven years.
Ambani said the world is at a crossroads regarding AI, where one path leads to scarce, expensive AI and controlled data, while the other path ensures affordable and accessible AI. In his address at the ‘India AI Impact Summit’ organized at Bharat Mandapam in the national capital New Delhi, Mukesh Ambani said that the best form of AI is yet to come.
He said that AI has the potential to bring an era of immense prosperity. The Global AI Impact Summit is an important moment in India’s tech history. A moment when India promises to make AI one of the driving forces to fulfill its dream of a developed India and become a fully developed country by 2047.
Mukesh Ambani said that Jio, along with Reliance, will invest Rs 10 lakh crore in the next seven years from this year. This is not a speculative investment. This is not for price increase. This is capital being invested in patient, disciplined nation building.
He said the biggest hurdle in AI is not the lack of talent, but the high cost of ‘computing’. This includes data centers with gigawatt capacity. He said that Jio connected India to the Internet era and now it will connect it to the intelligence era.
Mukesh Ambani said that we will bring intelligence (AI) to every citizen, every sector and every aspect of social development. Jio will do all this with the same reliability, scale and affordability that revolutionized mobile data connectivity.
Ambani said that we are feeling very honored that Prime Minister Narendra Modi is the guide, philosopher and leader of this summit. He said that Minister Ashwini Vaishnav and his excellent team deserve full praise for organizing this summit on such a large scale as per India’s ambitions.
Ambani said that Prime Minister Modi’s vision of an AI-powered developed India is also a blueprint for the developed Global South. He further said that if used wisely, I believe that AI can usher in an era of more things. A world without poverty and a future of prosperity for all 8 billion people on our beautiful planet is now in sight, within reach.
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