Mukesh Ambani focuses on Reliance's strategic embrace of data and AI in visionary address

In a visionary address to the Reliance family, Reliance Industries Limited Chairman and Managing Director Mukesh Ambani placed a spotlight on the pivotal role of data in the modern era, emphasising its significance as a new factor of production alongside talent and money.

Embracing technology

“In the Era of Digital Platforms, data has become a new Factor of Production along with Talent and Money,” Ambani said, signalling a strategic shift toward harnessing the power of data to drive innovation and efficiency within Reliance.

RIL head Mukesh Ambani was speaking on the occasion of the Reliance Family Day, commemorating the birth anniversary of founding chairman, Dhirubhai Ambani.

Ambani outlined a bold vision for Reliance to be at the forefront of data utilisation, leveraging AI as a key enabler to achieve a quantum leap in productivity and efficiency. “We need to be at the forefront of using data, with AI as an enabler for achieving a quantum jump in productivity and efficiency,” he asserted.

Highlighting the scope of this transformation, Ambani specified that all growth engines of Reliance, including digital services, green and bio-energy, retail and consumer brands, O2C and materials business, and health and life sciences, will undergo this data-driven evolution.

“All our growth engines of Reliance will have to complete this transformation by the time we meet next year,” he announced, underscoring the urgency of embracing this technological revolution.

Shifting the focus to talent development, the RIL CMD reiterated the commitment to making Reliance an AI-immersive tech company. “In order to make Reliance an AI-immersive tech company, we need to further build the necessary talent, skillsets and competencies at all levels within our organisation,” he said.

Talent is key

The imperative to expand and deepen the talent pool was stressed as a key priority. “We should expand and deepen our talent pool to be amongst the best in the world,” Ambani said, highlighting the critical role that a skilled and competent workforce plays in the success of a technology-driven enterprise.

Underlining the philosophy that “Investment in talent brings higher returns than investment in machines”, Ambani positioned talent development as a strategic investment essential for the sustained growth of Reliance in the evolving technological landscape.

Expressing deep appreciation for the leadership within Reliance, Ambani acknowledged the pivotal role of senior and middle-level leaders in nurturing young talent. “I also deeply appreciate that all the senior and middle-level leaders in Reliance are now discharging their responsibility of: Trusting the young. Empowering the young. Mentoring the young.”

Recognising the inevitability of mistakes in the journey of young leaders, Ambani offered pragmatic advice, urging them not to dwell on past errors but to focus on learning and growth. “Young leaders will commit mistakes. That’s for sure. But my advice to them is simple: Do not waste your energy on conducting a post-mortem on past mistakes. Rather, learn not to repeat the same mistakes,” he said.

In a call for boldness and courage, Ambani encouraged young leaders to be adventurous in pursuing present and future goals. “More importantly, be bold, courageous and adventurous in pursuing your present and future goals,” he urged, emphasising the importance of mutual support and a forward-looking mindset in Reliance’s journey towards technological leadership.

Addressing the dedicated individuals who contribute to Reliance’s success, Ambani said, “You are an army of immensely talented individuals who work wonders day in and day out with grit and discipline. I am proud of each one of you. You are my perpetual recharge battery.”

Reflecting on the dynamic business environment, the RIL CMD asserted, “There is simply no room for complacency. Reliance was never complacent in the past, and Reliance will never be complacent in the future.”

Philosophy of RIL

Ambani also motivated the workforce in Reliance to walk in the footsteps of founding chairman Dhirubhai Ambani.

“Today is the Reliance Family Day. We have come together to celebrate the birthday of Our Founding Chairman Dhirubhai Ambani,” Mukesh Ambani announced, emphasising the enduring values that bind the Reliance family together. “But we will always remain Dhirubhai’s Family. We will always cherish his timeless family values.”

Highlighting the core values embedded in Reliance’s philosophy, Ambani said, “These are — Integrity, Excellence, Empathy, the spirit of Cooperation, and the commitment to make Every Tomorrow Better Than Every Today for one and all. WE CARE for the Planet and Humanity. WE CARE for our Mother India and every single Indian.”

As India strives to become the world’s third-largest economy the RIL CMD outlined a vision for Reliance’s future growth, stating, “Reliance can …. and Reliance will … grow to be among the Top 10 business conglomerates of the world.”

Concluding on an optimistic note, Ambani inspired the Reliance family, saying, “At Reliance, we do not have bondages of the past – we face and embrace the future boldly. Because Dhirubhai’s life has taught us one thing… Keep the faith and nothing will be impossible.”

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