“The world will try to build a wall.But, we should not be influenced by that. It is very important to be open and have partnerships,” he said.
Talking about the potential for technology use in the country , Ambani said that we are at an exciting time in human history and data is the new oil. “The fourth industrial revolution is all about convergence of physical, digital and biological sciences… At the foundation of the fourth industrial revolution is connectivity and data. Data is the new natural resource, this has to be processed to intelligence for it to be useful but I do believe that we are at the beginning of an era where data equals oil.” He added that India will have a competitive advantage here with its population of 1.3 billion people and huge amount of data generated by them.
Ambani’s latest venture Jio shook the telecom industry sparking a wave of consolidation. He said that Jio covers almost 95% of the people in the country and as the world digitises, the next step will be partnerships.
Ambani hailed out to Nandan Nilekani, the founder-chairman of the Unique Identification Authority of India (UIDAI) for building Aadhaar, which has enabled real-time customer authentication for registering new telecom connections.”Without Aadhaar, we wouldn’t have been able to enroll one million people a day ,” he said.
Ambani also spoke about how new technologies such as artificial intelligence and natural language process could empower millions of people. “What happens to millions of Indians when they can speak to their mobile phones in their languages and get answers. It will redefine the quality of information and services, that is an opportunity that was impossible before,” he said.
Addressing the country’s booming startup ecosystem, Ambani said that they should focus on solving real problems, which do good to people in some way and not focus on financial returns alone.
Source : The Economic Times (Delhi)