Akash Ambani unveils Jio’s next-phase AI, cloud and satellite connectivity vision

Mumbai, Oct 28 : Jio Platforms made a strong debut on the stock exchanges on Wednesday, with its shares listing at a premium of 21.36 per cent over the initial public offering (IPO) price.

Addressing the listing ceremony in Mumbai, Jio Platforms Managing Director Akash Ambani outlined the company's technology roadmap for the next decade, highlighting artificial intelligence (AI), cloud computing, connected devices and satellite-based connectivity as key areas of focus.

Akash said Jio's next phase of growth would focus on making advanced technologies accessible to millions of Indians by integrating connectivity, computing and intelligence into a comprehensive digital ecosystem. The initiative aims to enable people across different regions and languages to participate more actively in the digital economy.

He said Jio intended to expand access to emerging technologies that could transform the way Indians live and work. The company's priorities include AI, cloud infrastructure, connected devices, space-based connectivity and new digital services.

Recalling Jio's first decade, Akash said the company had initially focused on making mobile data affordable and bringing millions of people into the digital economy. The next phase would extend this vision to emerging technologies and work towards building a digitally connected society.

He also expressed his ambition to transform Jio Platforms into a globally recognised technology company rather than limiting its operations to the Indian market.

Akash said Jio had developed its technological capabilities within India to address the country's specific requirements. He noted that India was gradually moving beyond being merely a consumer of technologies developed elsewhere to becoming a creator of technology and digital platforms.

Pointing out that many existing technology solutions were not designed to operate at India's scale, he said Jio had developed its own capabilities from the ground up to meet the country's requirements.

Reflecting on the response to the public offering, Akash said the IPO was fully subscribed within 95 minutes of opening, making it the fastest subscription for India's largest IPO.

Recalling the company's early journey, he said Jio began without an established customer base or revenue but with the ambition of making world-class technology affordable to Indians.

He highlighted February 20, 2017, when Jio crossed the 100-million-subscriber milestone. The company subsequently set a target of reaching 500 million customers, which it has since surpassed.

Addressing investors, Akash said Jio Platforms would continue to focus on creating value for customers while protecting and enhancing shareholder wealth over the long term.

Describing the stock market debut as the beginning of a new phase rather than the culmination of the company's journey, he pledged transparency in communication, adherence to commitments and continued efforts to strengthen investor confidence through the company's actions.