Reliance Industries (RIL) on August 28 announced the Jio True5G Lab, a facility that will enable its technology partners and enterprise customers to develop, test and co-create multiple industry-specific 5G solutions as the company sees the enterprise segment as a key frontier for its future growth.
The inaugural Jio True5G Lab will be located at the Reliance Corporate Park, acting as the "nerve centre for shaping India’s 5G future", Reliance Jio Chairman Akash Ambani said during the company's 46th annual general meeting (AGM).
Ambani announced this facility along with the Jio True5G Developer Platform, a platform that will combine its 5G network, edge computing and a spectrum of applications and services. The platform will enable enterprises to quickly deploy applications on Jio's edge compute locations, activate network slices on demand and access a range of partner applications on a single platform.
"This fusion of 5G network, Edge computing and service orchestration is transformative for Indian businesses. Gone are the days of multiple tools. This accelerates innovation, improves time-to-market and reduces cost," he said.
Through the company's Jio True5G marketplace, partners can also integrate their offerings and develop tailored solutions that will cater to their specific needs.
Ambani said this platform will change the way Indian enterprises, small businesses and technology startups interact with the digital world.
During the AGM, Reliance Industries Chairman Mukesh Ambani said that he sees four 'exciting' frontiers for Jio’s growth — the consumer segment powered by Jio 5G and Jio Bharat, the home segment turbocharged by Jio AirFiber and the Jio Platforms’ opportunity for global expansion, besides the business segment.
"Collectively, these frontiers provide Jio an opportunity for a multi-fold revenue and EBITDA growth in the coming years," he said.
Aim to support full spectrum of digital needs of Indian businesses
Ambani said that their connectivity offerings for large enterprises and small businesses have doubled over the past year and Jio now provides connectivity services to over 80 percent of large enterprises.
"The potential in the enterprise sector, and especially within the Small and Medium Business (SMB) segment, is far greater than what we have realised. Historically, enterprise services accounted for a large proportion of most telecom operators’ revenues. This suggests that we have a golden opportunity to rapidly catch up and build an enterprise connectivity business that mirrors the scale of our consumer business" he said.
Going forward, they also aim to support the full spectrum of digital needs for Indian businesses, the RIL chairman said.
He mentioned that the company's digital services arm Jio Platforms currently provides end-to-end professional and managed services for all the businesses of the RIL Group across various verticals such as telecom, retail, e-commerce, manufacturing, media, and financial services.
"These technology-enabled services allow our group businesses to streamline their operations, scale seamlessly and harness the power of real-time data and AI, giving them a significant competitive edge in their respective markets," he said.
Hence, Ambani believes that Jio Platforms is now "ideally placed" to offer these platforms, services and managed services to businesses outside the RIL Group, both in India and abroad. "This represents yet another powerful driver of growth for both Jio connectivity and Jio Platforms," he said.
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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