RIL AGM: Jio Bets on AI, Eyes Revenue Doubling, Free Cloud Storage

Mumbai, Aug 29 (PTI) Placing big bets on AI and deep tech, RIL Chairman Mukesh Ambani on Thursday announced up to 100 GB of free cloud storage for Jio users and expects the company to double revenues over 3-4 years, a move that will set the path for a possible demerger and listing in future.

Outlining a grand vision for Jio infused with AI and innovation, Ambani said the company is doubling down on deep tech to further extend its competitive edge.

At the AGM of Reliance Industries, Ambani spoke about the AI service platform (Jio Brain), national AI infrastructure (gigawatt-scale AI-ready data centres in Jamnagar), Jio TvOS with voice assistant HelloJio, JioPhoneCall AI, as well as Jio AI-Cloud Welcome offer of up to 100 GB free cloud storage for Jio users.

"Jio users will get up to 100 GB of free cloud storage, to securely store and access all their photos, videos, documents, all other digital content, and data. And we will also have the most affordable prices in the market for those needing even higher storage," Ambani announced.

Jio AI-Cloud Welcome offer will be launched in Diwali this year and bring powerful and affordable solutions of cloud data storage and data-powered AI services to everyone everywhere.

Industry experts noted that the cloud offerings from Alphabet's Google and Apple - that are widely used today - offer limited storage for free, and, hence, believe that Jio's latest offensive would be interesting to watch.

Noting that Jio is poised to be a cornerstone of India's digital future, Ambani said that the company is targeting to double its revenues and EBITDA over the next three to four years.

Ambani said Jio is moving full steam ahead and is "on track" on its promise to bring the benefits of AI to every Indian, everywhere, just as the company had done for data and broadband.

To streamline AI adoption, Jio is developing a comprehensive suite of tools and platforms that encompass the entire AI lifecycle - christened Jio Brain.

He said remarkable achievements on subscriber, revenue and EBITDA metrics have placed Jio Platforms among the Top-12 companies in India in terms of net profits, underscoring its financial strength and operational excellence.

"Despite our scale, Jio still remains one of the fastest-growing digital companies with immense opportunities for growth ahead," he said.

With AI becoming an integral part of everything, the company too has rapidly augmented talent and capabilities, embracing the latest in Generative AI. Jio TvOS with voice assistant HelloJio will compete with Apple's Siri and Amazon's Alexa.

Jio Phonecall AI will enable users to record and store any call in Jio Cloud and automatically transcribe it, which means automatically converting it from voice to text. It can also summarise the call and even translate it into another language.

"And we are embedding AI into all our processes and offerings, creating end-to-end workflows with real-time, data-driven insights and automation," he said.

On 'Jio Brain', Ambani said it enables the company to accelerate AI adoption across Jio, driving faster decisions, more accurate predictions, and better understanding of customer needs.

"We are also starting to use Jio Brain to drive a similar transformation across other Reliance operating companies, and to fast-track their AI journey as well. I anticipate that by perfecting Jio Brain within Reliance, we will create a powerful AI service platform that we can offer to other enterprises as well," he said.

The RIL Chairman said India has become the largest data market and Jio world's largest mobile data company.

"Today, Jio's network carries nearly 8 per cent of global mobile traffic, surpassing even major global operators, including those in developed markets. Today, Jio is a 490-million-strong family. And each Jio customer, on average, uses over 30 GB of data monthly, driving a 33 per cent growth in our data traffic over the past year," Ambani said.

The company has filed over 350 patents in 5G and 6G technologies alone.

"This past year, we completed the pan-India rollout of Jio True 5G, the world's largest and fastest 5G deployment...Jio True 5G has also achieved the world's fastest 5G adoption. In just two years, over 130 million customers have embraced Jio True 5G," Ambani said.

Jio will aim to add a million broadband homes every month to achieve 100 million home broadband customers in a record time.

"By leveraging our deep-tech capabilities and continuously optimising every process, we acquired the next 1 million air fibre customers in just 100 days. We are now challenging ourselves to add a million homes every 30 days. With this momentum, we are confident of reaching our target of 100 million home broadband customers at record speed," he said.

Further, Jio is also targeting over 20 million small and medium businesses, 1.5 million schools and colleges, over 70,000 hospitals, and 1.2 million doctors to connect with broadband. It also plans to establish gigawatt-scale AI-ready data centres in Jamnagar, powered entirely by Reliance's green energy, underlining its commitment to sustainability and a greener future.

"We also plan to create multiple AI inference facilities across our captive locations throughout the country, which we will scale up to support the growing demand. In parallel, we will partner with leading global technology companies and innovators to bring the most advanced AI models, solutions and tools to India," he said.

Ambani exuded confidence that by harnessing AI, India will leap into a future of unprecedented progress and prosperity.

He also made it clear that AI models and services will be hosted within India's borders, and "will comply fully with Indian data and privacy regulations, ensuring the security and privacy of our citizens are always protected".

Ambani declared that AI should not be a luxury reserved for a select few, and said AI services must be accessible on all devices, not just expensive, high-end devices.