World Economic Forum to set up C4IR centre in India with RIL
Indian conglomerate Reliance Industries Limited (RIL) made a big announcement at the World Economic Forum will be setting up its Center for fourth Industrial Revolution in Mumbai in partnership with RIL and the Government of India. The company is part of the Indian delegation, the announcement was made at Davos on Tuesday.
The World Economic Forum’s Centre for Fourth Industrial Revolution (C4IR) at Mumbai will be the first of its kind to be established outside Silicon Valley at San Francisco. The centres have been leading discussions, shaping agendas about inclusive growth and solving crucial challenges faced by humanity.
The new economy is largely set to benefit from the Fourth Industrial Revolution in the present digital age, resulting in the rebounding of GDP and job growth. The establishment is also likely to promote Artificial Intelligence and Machine Learning, Internet of Things (IoT) and blockchain amongst others.
The C4IR in Mumbai will be operating as a sister centre to the World Economic Forum Centre for the Fourth Industrial Revolution in San Francisco. According to the RIL, the centre will strive to keep policymakers and leaders in India ahead of the curve by providing unique insights on new forms of governance, new technology applications and connections, among others. The centre will also aid the Digital India Vision and Startup India Programme to encourage entrepreneurs under the leadership of PM Narendra Modi.