Reliance is turning into a deep tech company, the chairman, Mukesh Ambani, announced on Thursday as he termed AI as an inflection point in human history. He also termed it a solution for many of the knotty problems that mankind faces. At the 47th AGM of RIL, Ambani said the tech-driven transformation inside Reliance will propel it into the rapid growth phase and thus multiply the value manifold over time. He added, "Deep tech and advanced manufacturing integrated into strategy would place Reliance among the top 30 global companies shortly, and its future would be far brighter than its past." He said Jio has emerged as a leading innovator in deep tech.
Speaking on the advent of AI, Ambani termed it probably the greatest event in human evolution, and that opens the door to attempt to solve practically all complex problems of the world. "As I said last year, Reliance has become a net producer of technology. Breakthrough technologies and innovation have always been key drivers of wealth both for nations and corporations. This 'Vikas Mantra' has been encoded in every phase of our growth."
First, Reliance is reinventing itself into a deep tech enterprise with a bouquet of advanced manufacturing capabilities on three dimensions. One, the integration of innovative technologies across all its businesses for higher value to customers. Second, a team of talented engineers and scientists at Reliance is developing critical technological innovations in-house to enhance their product and service offerings. Thirdly, there is an AI-native digital infrastructure developed, on top of which the entire software stack from workflows to real-time dashboards across all businesses has been developed.
Through its 'Atmanirbhar' efforts, Reliance is accelerating the transformation of India into a Deep Tech nation. Ambani said the company has invested over Rs 3,643 crore, USD 437 million in R&D in FY24 taking the total research spending to over Rs 11,000 crore, USD 1.5 billion over the last four years. More than 1,000 scientists and researchers are working on critical projects across all businesses of the corporation.
He further said Reliance filed over 2,555 patents last year on inventions related to bio-energy, solar, and other green energy sources, high-value chemicals, among others. In the digital space, leading research areas included those pertaining to patents filed on 6G, 5G, AI-Large Language Models, AI-Deep Learning, Big Data, Devices, Internet of Things, and Narrowband-IoT.
He confidently predicted the current tech-driven transformation would usher Reliance into a new era of hyper-growth, where it will multiply manifold in value in the years to come. He further added, "Our future is far brighter than our past. It took Reliance over two decades to figure in the Top-500 global companies and two more decades to become part of the Top-50. With our current strategic pivot to deep tech and advanced manufacturing, I hope to see Reliance feature in the Top-30 League sooner than later."
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