Reliance Industries Ltd (RIL) Chairman Mukesh Ambani has called for a data regulation framework to protect India's huge Digital Capital. 

Ambani said India has the unique advantage to harness its enormous Digital Capital for AI-driven development, which is bottom-up and inclusive.

"We are confident that the government will introduce a sound data regulation framework to protect this national resource and ensure data privacy," he said.

Ambani said on Monday that AI and other associated technologies of the 4th Industrial Revolution will vastly expand the capacity to solve most complex and pressing problems before India and the world.

In his address at the inaugural session of Responsible AI for Social Empowerment (RAISE 2020) global summit, organised by the Indian government, Ambani said artificial intelligence is indispensable for India's tryst with her digital destiny.

"In the past, nations have competed on physical capital, financial capital, human capital and intellectual capital. But, in the coming decades... nations will increasingly compete on Digital Capital," he said.

He said the time is ripe, and the tools are ready to make India a world leader in Artificial Intelligence, and to make AI work for all Indians.

"In the coming decades, the total non-biological intelligence will exceed the rational intelligence of the entire human population. But this does not mean that AI will replace the human mind. It never can. It never will," Ambani said.

"Rather, AI and other associated technologies of the 4th Industrial Revolution will vastly expand our capacity to solve most complex and pressing problems before India and the world," he added.