New Delhi: Reliance Industries and Meta have united to launch a new business that will revolve around Artificial Intelligence (AI) to businesses. All this will be done most likely by incurring costs of approximately Rs 855 crore by the two large firms.
This will be referred to as Reliance Enterprise Intelligence Limited. Under this joint venture, Reliance will have 70 percent ownership in the company, whereas Facebook (Meta) will have 30.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, stated…
“Partnering with Meta brings our vision of providing AI to every Indian and enterprise to life – by combining Meta’s most widely adopted open‑source Llama models with our deep expertise across multiple industries. We will democratize enterprise‑grade AI for every Indian organization – from ambitious SMBs to blue‑chip corporates, enabling them to innovate faster, operate more efficiently, and compete confidently on the global stage. RIL will also serve as a real‑world enterprise‑scale environment for deploying and refining the joint venture’s offerings – enabling rapid iteration and continuous improvement at scale.”
Both companies have faith that the joint venture will facilitate the introduction of new smart and intelligent AI tools to businesses in India.
What this Partenership will do?
This company will develop AI features that can assist other companies work more efficiently and quickly. It will develop systems that may assist in such areas as customer service, marketing, IT and finance.
Reliance and Meta also plans to:
- Provide a service that will allow companies to create and deploy their own AI models.
- Make usable AI-based solution to various sectors such as retail, banking and healthcare.
- The manner through which the two firms will collaborate.
Facebook will carry with it their high-end AI technology and models (such as their Llama AI system) and Reliance will leverage its good network in India to access more customers.
It is aimed at developing AI tools that are both affordable and easy to operate by big and small businesses.
AI is gaining popularity throughout the world, and other Indian firms are also attempting to utilize it. It is through this new business that Reliance and Meta hope to make AI more affordable to businesses in India, particularly those that are small and medium-sized enterprises.
According to experts, this Partnership between them will enable the expansion of many Indian companies and local firms as they will learn to employ smart AI tools to streamline their functions and save time.
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