Reliance to build world’s largest AI-powered data center in Jamnagar with $30 billion investment

 

Reliance to build world’s largest AI-powered data center in Jamnagar with $30 billion investment

Reliance Industries, led by Mukesh Ambani, is planning to build the world’s largest AI-driven data center in Jamnagar, India. This facility will have an enormous capacity of three gigawatts, designed to support the growing demand for artificial intelligence (AI) services. The project is expected to cost between $20 billion and $30 billion, making it one of the largest investments in India’s tech infrastructure. Once completed, it will far exceed the current largest data center, Microsoft’s 600-megawatt site in Virginia.

Massive scale to support growing AI needs

The new data center in Jamnagar will be a technological powerhouse, providing the necessary infrastructure to support AI applications and innovations not just in India, but across the world. With AI technologies rapidly advancing, businesses and tech companies require strong data storage and processing capabilities. Reliance’s move to build such a large facility comes at the right time, as the demand for AI services continues to surge globally.

Sustainability with renewable energy

One of the standout features of the Jamnagar data center is its commitment to using renewable energy. Reliance plans to power the facility with energy from a green energy complex nearby. This complex will generate power from a combination of solar, wind, and hydrogen energy, making the data center an environmentally-friendly solution. This focus on sustainability is in line with Mukesh Ambani’s broader goal of promoting clean energy and reducing carbon footprints, ensuring that the massive data operations run in an eco-conscious manner.

Partnership with Nvidia for AI infrastructure

Reliance has also teamed up with Nvidia, one of the leading providers of AI chips, to equip the data center with cutting-edge technology. This partnership is a strategic move, as Nvidia’s powerful chips are crucial for handling the high demands of AI applications. In October, Reliance and Nvidia announced their collaboration to build AI infrastructure in India, which will play a pivotal role in advancing AI technology across the country.

Competition in India’s growing data center market

Reliance’s ambitious data center project will face strong competition from several major players in India’s data infrastructure marketAmazon Web Services (AWS), Microsoft Azure, and Google Cloud are all expanding their cloud and AI services across India, aiming to tap into the growing demand for AI computing power. Other Indian companies like the Adani Group, IBM, and CtrlS are also investing heavily in data centers to support AI and cloud computing. These companies will be competing directly with Reliance’s new facility in the rapidly developing sector.

Jio’s AI initiatives and investments

Reliance is not only focused on building massive data centers but is also making significant strides in AI technology through its telecom arm, Jio. Jio has already launched several AI-driven services to enhance customer experience and drive innovation in India. One such initiative is the Jio Phone Call AI, which provides real-time call transcriptions for users, improving communication and accessibility. In addition, Jio has unveiled Jio AI Cloud Services, offering 100 GB of storage for consumers, which helps in storing data for AI-powered applications.

Jio’s AI push doesn’t stop at consumer services. The company has also introduced Jio Brain, a machine-learning platform designed to offer AI services to businesses. Jio Brain is aimed at providing enterprises with advanced AI tools and services, such as agentic models, which can help in automating tasks and improving business processes. These initiatives show that Reliance, through Jio, is not only focusing on AI infrastructure but also working on AI-based products that will benefit both consumers and businesses in India.

Reliance’s role in AI revolution

With its investments in massive data centers, partnerships with leading technology providers, and focus on AI-powered services, Reliance is positioning itself at the heart of India’s AI revolution. The company’s efforts, along with Jio’s initiatives in machine learning and AI-driven services, are set to make a significant impact on the technological landscape in India and globally.

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Booming Cross-Border E-Commerce Activity in Asia Presents Opportunities for European Merchants VARIOUS Booming Cross-Border E-Commerce Activity in Asia Presents Opportunities for European Merchants by Fintechnews Switzerland September 12, 2023 International e-commerce spending by JCB cardholders based in Asia increased by 52% between 2021 and 2022, presenting a significant opportunity for merchants in Europe as shoppers across the region show increasing willingness to purchase goods online from foreign businesses, a new paper by the Japanese credit card company shows. The report, titled “Click into Place: Unpacking Card Abandonment”, provides insights on online spending from Asia, sharing the latest research and data on e-commerce trends to help businesses boost e-commerce sales and stand out from the crowd. According to the report, cross-border e-commerce activity increased substantially last year, with India leading the region with a staggering five-fold growth, followed by Indonesia and Vietnam, where cross-border e-commerce more than doubled between 2021 and 2023. In Hong Kong and the Philippines, global e-commerce spending grew by around 80%, while China, Taiwan and Thailand saw growth of about 50%. Further growth is expected in the future as the cart abandonment rate in Asia’s e-commerce industry is currently the highest in the world, standing at over 84% as of March 2023 compared with about 70% for customers globally. High cart abandonment in Asia suggests that there is potential for more expansion in the region if merchants are able to solve customers’ friction points and improve experience, the report says. cross border e-commerce image via freepik Addressing cart abandonment Cart abandonment is the act of a shopper adding an item to an online shopping cart but leaving the website without completing the purchase. It represents a significant amount of lost revenue for merchants in the online space. According to JCB, there are several cause of cart abandonment, with the first common one being the payment journey. In Asia, complicated checkouts and unexpected payment processes are cited as a reason for abandoning carts, with 55% of online shoppers in the region identifying long login and sign-up forms as a key source of frustrated. To address this paint point and boost sales, merchants must enhance customer experience by streamlining their checkout process with a well-designed website. They should also leverage advanced technology and design practices to balance security with user experience, using for example pre-fill information and tokenization to speed up the checkout process, as well as technology like 3DS authentication to increase consumer trust. Such improvements not only increase immediate sales and conversion rates but also foster long-term brand loyalty, the report says. The second cause of cart abandonment outlined in the JCB report is unmet customer expectations around how they can pay, and how easy it is to do so. Understanding customer psychology is vital to reduce cart abandonment in e-commerce, the report says. To cater to local preferences, merchants should offer multiple languages and payment currencies, provide a personalized customer journey, and ensure that payment processes are seamless across both mobile and desktop platforms. This is critical become mobile purchases are on the rise, representing 43% of e-commerce sales globally in 2023. 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In comparison, domestic e-commerce transaction values are set to grow by 48% over the same period, implying that much of the growth in the e-commerce payments market will in the cross-border area. In 2022, around 168 million Chinese customers had engaged in cross-border import e-commerce, growing from 155 million the previous year, data from market research and analytics platform Statista show. The trade value of cross-border import business reached approximately 34 trillion yuan (US$4.6 billion) that year. In Southeast Asia, about a quarter (23%) of consumers said they are shopping more at merchants based in other countries in the region since the start of the pandemic, while a similar number (22%) are shopping more in stores outside of Southeast Asia, a 2021 study by ACI Worldwide and YouGov reveals. Featured image credit: Edited from freepik Get the hottest Fintech Switzerland News once a month in your Inbox email address ASIA CROSS-BORDER E-COMMERCE ABOUT AUTHOR MORE INFO ABOUT AUTHOR Fintechnews Switzerland Fintechnews Switzerland More by Fintechnews Switzerland