Reliance AGM 2024: Key Announcements on Jio 5G, Cloud, AI, and Digital Services

Reliance AGM 2024: Key Announcements on Jio 5G, Cloud, AI, and Digital Services
We are living in the best of times, with revolutionary breakthroughs in science and technology, especially in Artificial Intelligence (AI), Computing, Robotics, and Life Sciences, said Reliance Industries Limited Chairman Mukesh Ambani on Thursday while addressing shareholders at the company’s 47th Annual General Meeting. At 1:45 PM, the company announced in an exchange filing that the Board of Directors will meet on September 5, 2024, to consider issuing bonus shares in the ratio of 1:1.

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Research and Development

“We have built an AI-native digital infrastructure for all Reliance businesses and developed our software stack, integrating end-to-end workflows and real-time dashboards,” the chairman announced, noting that the company, which employs over 1,000 scientists and researchers, has invested Rs 3,643 crore towards Research and Development in FY24 alone. Reliance has filed patents in 6G, 5G, AI-Large Language Models, AI-Deep Learning, Big Data, Devices, Internet of Things, and Narrowband-IoT.

Speaking about digital services, the chairman said, “Thanks to Jio, India is now the world’s largest data market,” highlighting that Jio’s network carries nearly 8 percent of global mobile traffic, surpassing even major global operators, including those in developed markets.

Data Usage on Jio Network

“Jio’s commitment to affordability has made its services accessible to all, with current data prices that are one-fourth of the global average and just 10 percent of those in developed countries.”

Jio currently has 490 million customers, and each Jio customer, on average, uses over 30 GB of data monthly, driving a 33 percent growth in our data traffic over the past year.