Data revolution, Trump,
entrepreneurship:
What Mukesh Ambani had to say about these at the NASSCOM summit Mukesh Ambani Chairman, Reliance Industries at the Nasscom Leadership forum spoke with Neelam Dhawan VP- Global Industries, HP on various challenges and way forward for businesses. Mukesh Ambani (more) Chairman & MD, Reliance Industries | Error loading player: No playable sources found At the NASSCOM summit yesterday, Mukesh Ambani, Chairman, Reliance Industries spoke about how data will revolutionise society, the launch of Jio, Donald Trump's impact on Indian IT and what entrepeneurs should do to succeed. Why data is the 'new oil' and will kickstart the fourth industrial revolution So, when you have everything converging, I understood very recently only 3 or 4 years ago, the meaning of the word exponential. I think all of you being in the IT industry understand exponential and I think that we are on the verge of exponential change. With this convergence that is happening in the world, we have the opportunity to solve big problems in a short time. That is why I say that in the next 20 years humankind can achieve much more than what we have in the last 300 years. It is a very exciting time. What data can do for society At the foundation of the fourth industrial revolution is connectivity and data.
The convergence of all the sciences is really brought about by connectivity and data. To my mind data is the new natural resource. Fundamentally you have to have a lot of people to generate data and use data. So, in that sense India is naturally blessed with its 1.3 billion people. Data in its raw form is useful but for it to have real value, it has to be processed into intelligence. We are really at the beginning of that era where data is really the new oil. When we bring all these convergent technologies, the benefit that it brings to society is immense. That is why I really believe that data is the new oil and India just with its talent and young population in this natural resource will have a competitive advantage. How Jio is helping enhance India's digital reach Jio was conceived at a time where we all knew that the world is fast digitising. If the Indian economy doesn’t have access to next generation digital infrastructure, we will be left behind, we will be outcompeted and we will not stand a chance to prove ourselves in the world. In 2015 India was 155th out of 230 countries in mobile broadband access. We believe with the investment in Jio and the concurrent action of the industry as a whole spurred by Jio, India can easily be in the top 10 countries in the world in terms of broadband access.
All our young people have to understand at the end of the day, we serve society and we serve that common man and we should always be aware that he is far smarter than each one of us. Can India become the change leader in the world? Absolutely, I think that we have all the ingredients of leading back in this new age that the world is going to go through. Let me give you one simple example in terms of change. It really is on the work that my friend, Nandan Nilekani has done in terms of the Aadhar identity system. So, because we have Aadhar where now over 1.3 billion people have individual identity. That helps multiple industries. When we started Jio and we set a target for ourselves in terms of saying that we will acquire 100 million customers in the shortest time, even we did not imagine that we would do it in months in terms of that. We just set ourselves a goal and if it was not for Aadhar, Aadhar enabled us to acquire a million customers a day which is unheard of in the industry as a whole. You take that one step forward with the digital payment ecosystem that we are fast developing. The biggest change that can happen and I see that happening in the next 12-18 months is that we can change from, and so far India has been a high value-low volume loan economy.
Read more for HNI Stock Tips- http://bit.ly/ace_services
What Mukesh Ambani had to say about these at the NASSCOM summit Mukesh Ambani Chairman, Reliance Industries at the Nasscom Leadership forum spoke with Neelam Dhawan VP- Global Industries, HP on various challenges and way forward for businesses. Mukesh Ambani (more) Chairman & MD, Reliance Industries | Error loading player: No playable sources found At the NASSCOM summit yesterday, Mukesh Ambani, Chairman, Reliance Industries spoke about how data will revolutionise society, the launch of Jio, Donald Trump's impact on Indian IT and what entrepeneurs should do to succeed. Why data is the 'new oil' and will kickstart the fourth industrial revolution So, when you have everything converging, I understood very recently only 3 or 4 years ago, the meaning of the word exponential. I think all of you being in the IT industry understand exponential and I think that we are on the verge of exponential change. With this convergence that is happening in the world, we have the opportunity to solve big problems in a short time. That is why I say that in the next 20 years humankind can achieve much more than what we have in the last 300 years. It is a very exciting time. What data can do for society At the foundation of the fourth industrial revolution is connectivity and data.
The convergence of all the sciences is really brought about by connectivity and data. To my mind data is the new natural resource. Fundamentally you have to have a lot of people to generate data and use data. So, in that sense India is naturally blessed with its 1.3 billion people. Data in its raw form is useful but for it to have real value, it has to be processed into intelligence. We are really at the beginning of that era where data is really the new oil. When we bring all these convergent technologies, the benefit that it brings to society is immense. That is why I really believe that data is the new oil and India just with its talent and young population in this natural resource will have a competitive advantage. How Jio is helping enhance India's digital reach Jio was conceived at a time where we all knew that the world is fast digitising. If the Indian economy doesn’t have access to next generation digital infrastructure, we will be left behind, we will be outcompeted and we will not stand a chance to prove ourselves in the world. In 2015 India was 155th out of 230 countries in mobile broadband access. We believe with the investment in Jio and the concurrent action of the industry as a whole spurred by Jio, India can easily be in the top 10 countries in the world in terms of broadband access.
All our young people have to understand at the end of the day, we serve society and we serve that common man and we should always be aware that he is far smarter than each one of us. Can India become the change leader in the world? Absolutely, I think that we have all the ingredients of leading back in this new age that the world is going to go through. Let me give you one simple example in terms of change. It really is on the work that my friend, Nandan Nilekani has done in terms of the Aadhar identity system. So, because we have Aadhar where now over 1.3 billion people have individual identity. That helps multiple industries. When we started Jio and we set a target for ourselves in terms of saying that we will acquire 100 million customers in the shortest time, even we did not imagine that we would do it in months in terms of that. We just set ourselves a goal and if it was not for Aadhar, Aadhar enabled us to acquire a million customers a day which is unheard of in the industry as a whole. You take that one step forward with the digital payment ecosystem that we are fast developing. The biggest change that can happen and I see that happening in the next 12-18 months is that we can change from, and so far India has been a high value-low volume loan economy.
Read more for HNI Stock Tips- http://bit.ly/ace_services
