Mukesh Ambani, Chairman and Managing Director of Reliance Industries.
Credit: Reuters Photo
New Delhi: Reliance is transforming itself into a deep tech company, Chairman Mukesh Ambani said on Thursday as he termed AI as a transformative event in the evolution of the human race that is opening up avenues to address complex problems facing mankind.
Addressing the 47th AGM of RIL, Ambani said the ongoing tech-driven transformation of Reliance will propel the company into a new orbit of hyper-growth and multiply its value for years to come.
The strategic adoption of deep tech and advanced manufacturing will propel Reliance to secure a place in the global top-30 league in the near future, Ambani said promising that the future is far brighter than the past.
Jio today stands as a true deep tech innovator, he noted.
Describing the birth of AI as perhaps the most transformative event in the evolution of the human race, Ambani said it had opened up opportunities to address a number of complex problems facing mankind.
"As I told you last year, Reliance has now become a net producer of technology. Breakthrough technologies and innovation have always been the greatest wealth creators for nations, as well as for corporates. Reliance internalised this 'Vikas Mantra' at every stage of our growth," he said.
Reliance is transforming itself into a deep tech company with advanced manufacturing capabilities in various ways.
"First, we are embedding innovative technologies in every single business to generate ever-greater value for our customers. Second, our talented engineers and scientists are incubating several critical technological innovations in-house to enhance our product and service offerings. Third, we have built an AI-native digital infrastructure for all Reliance businesses, and have built our software stack, integrating end-to-end workflows and real-time dashboards," he said.
With the success of our 'Atmanirbhar' efforts, the company is accelerating India's transformation into a deep tech nation.
"Reliance spent over Rs 3,643 crore ($437 million) in FY24 towards R&D, taking our spend on research to over Rs 11,000 crore ($1.5 billion) in the last four years alone. We have more than 1,000 scientists and researchers working on critical research projects across all our businesses," Ambani said.
He informed that last year Reliance filed over 2,555 patents, mainly in the areas of bio-energy innovations, solar and other green energy sources, and high-value chemicals.
"Digital is another principal area of our in-house research. We have filed patents in 6G, 5G, AI-Large Language Models, AI-Deep Learning, Big Data, Devices, Internet of Things, and Narrowband-IoT," he said and assured that the ongoing tech-driven transformation of Reliance will propel the company into a new orbit of hyper-growth and multiply its value for years to come.
"Our future is far brighter than our past. For example, Reliance took over two decades to be amongst the top 500 companies globally. The following two decades saw us joining the league of the world's Top-50 most valuable companies. With our strategic adoption of deep tech and advanced manufacturing, I can clearly see Reliance earning a place in the Top-30 League in the near future" .