After telecom and e-commerce, India’s richest man has now put his weight behind artificial intelligence (AI).
Mukesh Ambani, chairman of India’s most valued private company Reliance Industries, believes that AI is “indispensable” to India for achieving its “digital destiny.”
“The time is ripe, and the tools are ready to make India a world leader in artificial intelligence, and to make AI work for all Indians,” Ambani said at the Responsible Artificial Intelligence for Social Empowerment summit (RAISE 2020) yesterday (Oct. 5).
The 63-year-old second-generation businessman, who has started dabbling in all things internet over the last few years, said AI could help India achieve its goals across economic growth, agriculture modernisation, affordable healthcare, and world-class education.
Ambani’s push for AI comes at a time when his digital business vertical, Jio Platforms, has been emerging as one of the youngest and fastest-growing tech firms in
The world’s biggest tech companies are clamoring for a larger piece of India’s booming internet space, but that increasingly seems to mean going through the country’s richest man, Mukesh Ambani.
Ambani’s Reliance Industries Ltd. is said to be offering to sell a stake of about $20 billion in its retail business to Amazon.com Inc., Bloomberg News reported last week. If Ambani succeeds in pulling off such a deal, it would mark another victory for the billionaire, who in recent months has secured $20 billion of investment in his digital unit from marquee names including Facebook Inc. and Google Inc.
The mere possibility of an Amazon investment reveals not only Ambani’s market clout, but also how India’s business climate is changing as Prime Minister Narendra Modi cranks up nationalist rhetoric while the nation hurtles toward the first annual economic contraction in 40 years. Having seen multiple regulatory roadblocks thrown in their