jio to stand affordably,where date is new oil says Mukesh Ambani
Mumbai – Reliance Industries Ltd and Jio Managing Director and Chairman Mukesh Ambani on Wednesday said that the company is newly-launching telecom venture and Reliance Jio stands for affordability and data is the new oil in the industry.
“Jio has conceived at a time when the world is fast digitising. What the Jio platform offers is that the partner with the next generation to solve problems for India to make sure that our industries are more productive,” Ambani said.
“To my mind, data is the new natural resource. In that sense, India is blessed with 1.3 billion people, for it to have a real value it has to be processed into intelligence. Data is the new oil and its benefits are immense to the society. India with its youth will have a competitive advantage,” Mukesh added.
He has spoken at an interactive session at the Nasscom India Leadership Forum 2017 here in Mumbai. Reliance Jio has upset the Indian telecom industry with its free data offer exceeding till March.
“With the investment in Jio and concurrent action spurred in the industry, India now can be amongst the top 10 in broadband access all over the world. As data is the oxygen of this digital life and no Indian should have this in scarcity,” he added.
“At the foundation of fourth industrial revolution is connectivity and data, the convergence of all the sciences has been brought about.”
Talking about digital payments, he said: “After the Aadhaar, you consider the digital payments system that is fast in developing. Loans and financial resources were only available to few people at high value. Now, I see that change on the basis of technology. Now based on data, you can get a loan on your mobile phone.”
“We are at the doorsteps of change in adapting technology to change the lives of people”. “In this new world in terms of digitalization it is important to be opened. Whatever the world trends may be, we have to make sure we are always open, always connected. The goal to improve the lives of hundreds of millions of people is the opportunity that we have,” he added.
Talking about digitialisation, Ambani said: “We have opportunities to adapt artificial intelligence, natural language processing, drones in terms of our own logistics. Opportunities are immense. Now we have infrastructure to do it in our own market and to make India one of the biggest software markets” of the world.”
Counselling a five-point tip-sheet to budding entrepreneurs and potential start-up founders, Ambani said it is essential to find a passion for solving a problem without focusing primarily on financial returns.
“As an entrepreneur, you find a solution to the problem you are passionate about. It does not solve problems but first finding problems and then solving it. Financial results are actually a by-product. Failures are normal. Learn from them.