India’s Adani Group is looking to break into the country’s burgeoning digital payments and e-commerce markets to expand its consumer-facing business. Part of the plans includes creating AI models and cloud services, according to reports on Tuesday.
Also read: India’s AI Market Set To Reach $17 Billion CAGR by 2027
The conglomerate operates across different sectors such as energy and utilities, transportation, and logistics, among others, in India. Business Standard reports that Adani Group intends to leverage its sectoral data to train its AI models for the respective industries.
Adani Group Set To Dabble Into AI and Cloud Services
A person with knowledge of the matter said the company could commercialize the AI models at a later stage after they undergo tests. The company may also begin to offer its cloud services to the public, which presently only support its own operations.
Adani Group has been quietly exploring AI in the past few months. In March, the chairman of Adani Group, Gautam Adani, met with Qualcomm CEO, Cristiano R Amon, to discuss semiconductors and AI.
“Great meeting with Qualcomm CEO Cristiano Amon & his leaders. Inspiring to hear his vision for semiconductors, AI, mobility, edge appliances and much more across different markets.”
Gautam Adani
The meeting stirred some speculations that both companies could come together on a new data center and AI chip venture. But no such partnership was announced.
Before then, Adani Group had formed a joint venture in December 2023 with a unit of UAE’s International Holding Co. to explore artificial intelligence and other emerging technologies. The parties, respectively, own 49% and 51% of the entity called Sirius Digitech International Ltd., which is based in Abu Dhabi.
Adani Group Pushes Into Payment and E-commerce
In addition to the focus on AI, Adani Group is keen on expanding its digital business to compete with the likes of Google and Mukesh Ambani’s Reliance Industries in the areas of payments and e-commerce. The move could bring a much-needed uplift to the conglomerate’s consumer-facing businesses, according to reports.
Also read: Indian Enterprises Leading Global AI Adoption
“There are just three business conglomerates running this country — the Tatas, the Ambanis and the Adanis,” Jayanth Kolla, a technology analyst, told Financial Times. “Adani is the one of the three groups which does not have significant consumer-facing businesses.”
Per the report, Adani Group is already in talks to secure the required licenses for the new operations. The services will be made available through the company’s app called “Adani One” if the permits are approved.
Cryptopolitan reporting by Ibiam Wayas
