India’s Reliance Industries and its telecoms unit Jio plan to invest Rs10 trillion ($110bn) over the next seven years to develop artificial intelligence and data infrastructure, billionaire CEO Mukesh Ambani said.
The investment will particularly focus on building computing power for AI, as its scarcity and high cost remain the main obstacles to the industry’s development domestically, he said while speaking at the AI Impact Summit.
Ambani said Jio is building an AI-ready data centre in Jamnagar and plans to commission over 120 MW of power in the second half of this year.
“We will prove that AI will not take away jobs. On the contrary, it will create new opportunities for highly skilled professionals,” the Reliance chief said.
He added that Reliance will partner with India’s leading industry groups to implement AI in manufacturing, logistics, energy, finance, retail, agriculture and healthcare.
Earlier this week, India’s Adani Enterprises said it plans to invest $100 billion by 2035 to build data centres for AI powered by renewable energy.
AI Impact Summit-first major Indian AI summit taking place this week in New Delhi.