New Delhi, Oct 5 (IANS) Reliance Industries (RIL) Chairman Mukesh Ambani on Monday said that the time is ripe for India to become a world leader in artificial intelligence (AI) and the tools are also ready to make the country lead globally in the field. Speaking at 'RAISE 2020', a virtual summit on AI organised by the Ministry of Electronics and IT and NITI Aayog, the RIL Chief termed intelligent data as 'digital capital' and said that in the coming decades nations will increasingly compete on digital capital. "India has the unique advantage to harness its enormous digital capital for AI-driven development, which is bottom-up and inclusive. This is because of our twin strengths of democracy and demography," he said. He exuded confidence that the government will introduce a sound data regulation framework to protect this national resource and ensure data privacy. "Therefore, 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," Ambani said. He noted that the crucial components are in place to make India a premier 'digital society'. India's economy and society will together generate data at an explosive and exponential rate, he said.