1. Data is not only the new oil, it is oxygen for digital economy: Mukesh Ambani

Data is not only the new oil, it is oxygen for digital economy: Mukesh Ambani

After saying 'data is the new oil' for India, country’s richest man Mukesh Ambani on Wednesday once again reckoned his views by saying that data is the oxygen for the new digital economy.

By: | Updated: September 27, 2017 2:16 PM
India Rich List 2017, china, demonetisation, gst, Hurun Report India, gdp, Mukesh Ambani, Acharya Balkrishna, patanjali, Future Retail, bharti retail After saying ‘data is the new oil’ for India, country’s richest man Mukesh Ambani on Wednesday once again reckoned his views by saying that data is the oxygen for the new digital economy. (IE)

After saying ‘data is the new oil’ for India, country’s richest man Mukesh Ambani on Wednesday once again reckoned his views by saying that data is the oxygen for the new digital economy. Mukesh Ambani said that the fourth industrial revolution fuelled by the advent of connectivity, data, and artificial intelligence has begun and said that India has an opportunity to lead at it.

“We have the urgent task of empowering 1.3 billion Indians with the tools needed to flourish in the digital marketplace. Data is the oxygen of a new digital economy. We cannot deprive Indians of this vital life-sustaining resource. We have to provide ubiquitous access to high-speed data at affordable prices,” Mukesh Ambani said at an industry event.

He emphasised that India’s 4G coverage will be larger than 2G in next 12 months. “As a nation, India missed out on first three industrial revolutions, namely, mechanisation, mass production and automation. India has the opportunity to lead the fourth industrial revolution, which is set to usher in more dramatic revolutions globally than the three previous revolutions,” he added.

Mukesh Ambani also laid down three-point agenda for both the government and the industry to lead the digital revolution. Mukesh Ambani said that India must tap the potential of the digital medium in creating jobs. “(India) must foster confidence in the society that new technologies such as artificial intelligence, robotics, IoT, cloud computing, big data analytics, 3D printing, the blockchain, nanotechnology are new enablers of employment,” he said.

Highlighting the need for greater connectivity, Mukesh Ambani said that India must connect everyone with Super IoT. “This will enable 130 crore Indians to collaborate directly with one another and democratise economic life like never before,” he added. Mukesh Ambani further emphasised the on digitisation of education, skill training and human resource development.

Speaking at the India Mobile Congress event, Mukesh Ambani brought the need to make affordable smartphones accessible to everyone. “We have to ensure that every Indian has access to an affordable smartphone that connects him to the limitless knowledge and power of the internet,” he said.

Mukesh Ambani, Chairman of Reliance Industries Ltd, which in turn control Reliance Jio Infocomm, which has emerged as one of the biggest players in the telecom space. India’s largest business conglomerate, launched its much-awaited telecommunication venture Reliance Jio last year with a whopping Rs 1.5 trillion investments to start with, mainly in building high-speed internet infrastructure over the new 4G/LTE network across the entire country.

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    Sep 27, 2017 at 2:23 pm
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