The chairman and managing director of Reliance Industries Limited (RIL), Mukesh Ambani, shed light upon the fourth industrial revolution on Wednesday, expressing his view that it would be 'driven by data and defined by humanism'. Convinced that India has the potential to lead this industrial epoch, Mr Ambani backed his statement by highlighting three key aspects, in his keynote address at the Republic Summit 2018.
"Friends, let me tell you why I am so optimistic about India's potential and not just optimistic but actually convinced".
The world had witnessed three industrial revolutions.
- First was power by Coal and steam
- The second was fueled by electricity and oil
- Third used electronics and information technology
"During the first two revolutions, India languished on the fringes. It started playing catch-up in the computer-driven third industrial revolution. The fourth Industrial revolution is now upon us. It is marked by a fusion of technologies, joining the physical, the digital and biological world", Mr Ambani said.
"Data is the foundation of this revolution. This revolution will be driven by data and will be defined by humanism. India is already generating a significant quantum of data. And I can say with confidence that India has a chance of not just participating in the fourth industrial revolution but also leading it" , he added.
Mukesh Ambani then listed down the three main reasons why he thinks that India will lead the fourth industrial revolution :
He then chose to focus on three areas specifically, Agriculture, Education and Healthcare:
Agriculture: We can't ignore the reality of underdevelopment of rural India. Today, our average farm yields are only 30-40% of global yields. This can be increased by water management and other techniques. There's a scope for a 'digital green revolution', to usher in an 'evergreen revolution'.
Education: India's youth is our biggest asset. But we need digital tools to break economic, language and regional barriers. Jio will play a leading role in this connectivity. Students will have access; AI-based assistants will deliver curriculum tailored to each student.
Healthcare is a basic human right for each Indian. It's a national responsibility and national necessity. With digital tech, this has become possible even in remote areas. As in education, best the doctors can become accessible to all citizens everywhere.
Coming back to the fourth industrial revolution, he quoted Prime Minister Narendra Modi, saying, "India's contribution towards the 4th Industrial Revolution will leave the world stunned". He declared, "This will be prophetic."