Mukesh Ambani Outlines 5 Trends That Will Define the Digital Future At FICCI Frames 2016

Mr. MukeshAmbani, Chairman of Reliance Industries, delivered an inaugural keynote speech at FICCI Frames 2016, held at the Renaissance, Powai.In his speech outlined five ‘megatrends’ that define the digital future. The visionary Mr. MukeshAmbani believes that strategies that factor these megatrends will help put us at the top in a digital world, which is fast moving from orality to visuality.

The Fast Changing Trend-From the Spoken To the Visual World

Mr. MukeshAmbani believes that the world is rapidly undergoing a tectonic shift from the written and spoken world to the visual world. This is because the videos are more compelling, as they are intuitive, emotive, and easy to understand. Besides, the power of images shouldn’t be undermined too, as a picture is worth a thousand words. The digital world is ruled by videos and images.

Reliance Jio’sPowerful Video Network

Reliance Jio is all geared up and is sure to have the most powerful and comprehensive video network in the world. This shift from voice to video will be successfully achieved, with Jio as the main network that will be available in every village and city in India. The Jio video network can change the way we play, learn, entertain, or communicate. As affordability is a key feature of the service, Reliance Jio has the power to change how we learn, play, entertain and communicate.

Affordability is the key to change

Mr. Ambani reiterated the view that affordability is one factor that has the power to bring millions to a new platform and change everything. It is critical to understand that digital technology is exponential, and thus it creates significant opportunities for those who wish to embrace the change. Those who wish to resist the change often face a challenge, as change is inevitable and depends on the choices we make. Mr. MukeshAmbani believes that embracing the change is the best way for everyone to reap rich dividends, allowing each of us toshare in the exponential growth.

The World is Graduating to a Tele-Media World

There was a time when telecommunication, television and broadcasting, and media and entertainment were separate industries. The telecommunication industry focused only on the network and infrastructure,while entertainment companies would focus only on the production and distribution of content. With high-speed mobile broadband havingtaken the world by storm and with new emerging media sectors, today we all are a part of the tele-media future. There is a change in the game plan, and the model has shifted from ownership to digital access, and the focus of the user has shifted from downloading to streaming.

Mr. MukeshAmbani emphasized that the traffic isn’t linear, it is interactive. There has been a shift from monologues to conversations and from copyrights to usage rights. He stated, “Hyper-collaboration will be the requirement of the day;the world is moving from an ego-system to eco-system”.

Abundance is the Global Trend

Mr. MukeshAmbani defines abundance of distribution, choice and content. There is an abundance of videos and songs that you can access anywhere at anytime. The abundance has made intelligent data the need of the hour. Mr. Ambani draws a beautiful analogy of data being the oil for the mind. He even highlighted that this abundance might create a scarcity of happiness, purpose of life, and context. Anyone who can address this scarcity will emerge as a winner.

It is About Humanity and Not Technology

Technology is not an end goal; it is just the means to an end. The aim of technology is to make human life better, and the future belongs to creative empathizers, meaning makers, and pattern recognizers. Humanity will continue to evolve as technology changes.

Summary

Mr. MukeshAmbani, Chairman of Reliance Industries outlined five megatrends that define the digital future in his inaugural keynote speech at FICCI Frames 2016.

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