Reliance AGM 2024 Highlights: Mukesh Ambani outlines AI vision for Reliance Jio at 47th AGM

- JioBrain, to drive AI adoption across Reliance’s operations

- Jio said it will build powerful generative AI models at affordable prices

- Giga-watt scale, AI-ready data centre at Gujarat’s Jamnagar along with AI

inference facilities

- JioAI Cloud welcome offer with upto 100 GB free cloud storage starting Diwali this year.

- Partnering with tech companies to reduce AI inferencing

- Partnering with JioInstitute to develop AI programme for upskilling

- JioTV OS, a homegrown operating system for Jio set-top boxes with 4K ultra HD video, Dolby Atmos, and Dolby Vision.

- Hello Jio, a generative AI voice assistant integrated with JioTV OS to find content on Jio set-top boxes.

- JioStore, an app store specifically designed for Jio set-top boxes with smart apps offering motion-based fitness and augmented reality shopping features, among others.

- JioHome app, a unified platform to manage IoT devices in users’ homes.

- JioTV+, a platform offering 860 live TV channels,OTT apps, and on-demand content.

- JioPhoneCall AI, a generative AI feature to transcribe, summarise, and translate phone calls.

Reliance said that its telecom and retail units is expected to grow 2X in revenue and EBITDA over the next three to four years. It further said that the conglomerate is on track to grow more than 2X in size by the end of 2030.

At its 47th annual general meeting, Reliance Industries Limited (RIL) announced a new software solution called JioTV OS, which will power Jio set-top boxes, and called it a 100 per cent homegrown operating system, made for big TV screens that offers a faster, smoother, and most personalised user experience. Read more here.

The world's largest bio-energy, deep tech energy centre will be established by Reliance at Gujarat's Jamnagar to process improvements in customised biocatalysts and microbial consortia, develop high yield drought-resistant variants for energy crops, and automate bio-energy plant operations.

Reliance chairman Mukesh Ambani announced that it is building large-capacity AI infrastructure and launching an AI service platform to offer powerful generative AI models at affordable prices. He also introduced the concept of connected intelligence, powered by the Jio AI Cloud, which stores data and delivers intelligent, personalised solutions via the network. Read more here.

The company said that it is looking to develop low carbon energy solutions focused on geothermal energy, underground coal gasification, natural hydrogen, and helium. It has set up more than 4,800 JioBP charge points across the country.

- Rs 3,06,848 crore gross revenue

- 17.8 per cent growth

- Rs 23,082 crore EBDITA

- 28.4 per cent YoY growth

Reliance says that IPL 2024 on JioCinema was the most-watched, live-streamed event in the world.

Mukesh Ambani is back on stage to share updates on Reliance's media and entertainment offerings. Viacom 18 saw a growth of 62 per cent and this year's IPL season on JioCinema reached 62 crore viewers, a 38 per cent increase over the previous season.

The feature will let users automatically transcribe phone conversations. It can also summarise calls and translate to other languages.

The JioHome app will let users manage smart devices in their home such as WiFi, ACs, etc. It has malware detection and guest WiFi management.

JioTV OS looks to provide a faster, smoother viewing experience with 4K Ultra HD, Dolby Vision, and Dolby Atmos. It will also be equipped with Hello Jio, an AI voice assistant to browse through the entertainment catalogue. The Jio App Store is also part of the home entertainment offering.

Ambani says that Reliance will be building Gigawatt-scale, AI-ready data centres in Gujarat's Jamnagar.

"At Jio, we lead in adopting cutting-edge technologies for rapid scaling and superior service. AI is now central to our operations, enhancing efficiency with real-time data and automation. We’re building a comprehensive AI suite, JioBrain, to streamline adoption and deliver smarter, more responsive services," says Ambani.

Reliance looks to add 100 million home broadband customers on JioAirFiber, while also targeting 20 million small and medium businesses, 1.5 million schools and colleges, and 70,000 hospitals.

- 8 per cent share of global mobile traffic

- 490 million subscribers

- 30GB per user per month data consumption

- 33 per cent year-on-year increase in data traffic

Consolidated turnover: Rs 10,00,122 crore

EBIDTA: Rs 1,78,677 crore

Net profit: Rs 79,020 crore

Exports: Rs 2,99,832 crore

Reliance says it has filed patents in 6G, 5G, AI-LLMs, deep learning, big data, narrowband iOT, etc. "With our strategic investments, I can clearly see Reliance holding a position in the top-30 league in the near future," Ambani says.

Reliance says it informed stock exchanges today that it will be holding a board of directors meeting on September 5 to consider issuing bonus shares in the ratio of 1:1.

"Reliance is truly blessed to make humble but crucial contribution to India. All our businesses continue to be key drivers of Indian economy. We are not in the business of pursuing short term profit and hoarding wealth. We are in the business of providing highest quality products and services that improve ease of living for Indian consumers," Ambani says.

We're minutes away from RIL chairman and managing director Mukesh Ambani's keynote to shareholders of the conglomerate, where he is expected to share the company's financial results, upcoming projects, as well as several tech-related announcements.

Reliance's 47th AGM comes on the back of some positive news for the company as its multi-billion dollar deal to merge with Walt Disney's India operations was approved by CCI, India's competition watchdog, yesterday. This approval will lead to the creation of a joint venture that could potentially capture 50 per cent of India's streaming market, according to Bloomberg.

Under the deal, Reliance and its affiliates will hold a 63.16 per cent stake in the combined entity that will house two streaming services and 120 television channels. Walt Disney will hold the remaining 36.84 per cent stake.

Reliance Industries Limited (RIL) is hosting its 47th annual general meeting (AGM) today at 2 PM. The meeting will begin with the keynote by RIL’s chairman & managing director Mukesh Ambani, which will be live-streamed on JioMeet, YouTube, Facebook, X, and Instagram. Anyone interested in learning more about RIL AGM can also send a “Hi” to +91-7977111111 on WhatsApp to get more information.

When it comes to consumer technology, RIL is expected to share updates on the 5G network, the expansion of JioFiber, and how it could monetize 5G, which is currently being offered for free. Other important announcements that we can expect from RIL’s 47th AGM include the launch of an affordable 5G-enabled JioPhone, 5G-powered IoT products, and more related to gaming and entertainment.

2016 - Telecom service Reliance Jio launched

2017 - JioPhone, conventional feature phone, launched

2019 - JioFiber broadband connection launched

2022 - Jio 5G services launched

2023 - JioBharat, budget-friendly 4G phone, launched along with JioAirFiber and JioCinema

The buzz ahead of Reliance Industries' 47th AGM is mostly around the potential listings of Reliance Jio and Reliance Retail, the conglomerate's telecom and retail ventures. Besides the IPO details, RIL chairman Mukesh Ambani is also expected to provide timelines on the commencement of certain energy projects. Details regarding Reliance's e-commerce platform JioMart, 5G monetisation strategies, and how the upcoming merger with Disney could improve Reliance's entertainment ventures, are also awaited. Ambani's comments at the AGM may also include an update on when Shein is expected to re-enter India. The online fast fashion giant had signed a licensing agreement with Reliance in June last year.

The share price of Reliance Industries Limited (RIL) rose by 0.64 per cent at Rs 3,014.95 per share on the Bombay Stock Exchange (BSE) on the day of its much-anticipated 47th annual general meeting (AGM) on Thursday, August 29. Meanwhile, stocks of RIL subsidiaries, TV18 Broadcast and Network18 Media & Investments, was also up by 13 per cent on Thursday following the approval granted by the Competition Commission of India (CCI) on the merger between RIL and Walt Disney's Indian media assets.