Mukesh Ambani, the billionaire chairman and managing director of Reliance Industries (RIL), on Thursday, listed growth, talent enrichment, and adoption of artificial intelligence (AI) as targets for the company in 2024 and vowed to make it one of the top ten business conglomerates in the world.
Address employees on the 91st birth anniversary of RIL’s founder Dhirubhai Ambani, he set the ambitious goal to grow the company into the top ten business conglomerates of the world.
"Today, the domestic and global environments for business are changing very fast. There is simply no room for complacency. Reliance was never complacent in the past, and Reliance will never be complacent in the future," he said.
Referring to his workforce as his “perpetual recharge battery”, Mukesh Ambani said, “Usher in 2024 with three key messages – AI adoption, talent enrichment, and institutional culture”.
Reliance started its operation as a small textile manufacturing unit in Mumbai and then ventured into petrochemicals, becoming the world's biggest single-location oil refining complex.
It was in 2005 that Reliance entered the retail sector and went on to become the largest operator of grocery stores, hypermarkets, and online retail in the country. In 2016, Reliance launched the telecom service Jio, which became the largest operator in India and the third largest in the world.
"We have shown the courage to set the bar high, and the ability to jump even higher to create new records. This is how Reliance has achieved perennial growth," he said.
Ambani said Reliance must be forever kept young, by ensuring that the average age of all teams remains in the 30s.
Referring to his three children, Mukesh Ambani said, "Let me reiterate: The future of Reliance belongs to Akash, Isha, Anant and their generation."
Mukesh Ambani guided his workforce to reinvent itself and become a new-age technology company.
"In the era of digital platforms, data has become a new factor of production along with talent and money. We need to be at the forefront of using data, with AI as an enabler for achieving a quantum jump in productivity and efficiency," he said.
Mukesh Ambani said that the most important part of Reliance's culture is to work with the founder's mindset. "It means working with the ownership mindset. Each and everyone of you becomes an owner of Reliance when you own the founder's purpose and passion," he told employees.
"Young leaders will commit mistakes. That's for sure. But my advice to them is simple: Do not waste your energy on conducting a post-mortem on past mistakes. Rather, learn not to repeat the same mistakes," he said.
