On June 29, 2024, IBM and the Government of Gujarat joined forces to establish an AI cluster at GIFT City using IBM’s ‘watsonx’ platform. The collaboration aims to promote innovation and cooperation among financial institutions within the Gujarat International Finance Tec (GIFT) City. Through this partnership, financial institutions will gain access to AI Sandbox, proof-of-concept support, AI literacy programs, and digital assistant solutions.
The Memorandum of Understanding (MoU) between IBM and the Department of Science and Technology of the Government of Gujarat seeks to harness IBM’s Watsonx platform to stimulate innovation among financial institutions in GIFT City. Watsonx is a data and AI platform geared toward business applications. This initiative further solidifies IBM’s commitment to assisting the Government of Gujarat in its digital transformation efforts and providing advanced AI solutions to financial institutions in GIFT City.
IBM will offer technologies and software platforms via a cloud environment, enabling financial institutions to tailor and enhance large AI models in intricate languages. Additionally, IBM will develop a digital assistant-based solution to aid financial institutions in seamlessly integrating these personalized AI models.
In alignment with IBM’s overarching objective of upskilling 30 million individuals by 2030 and training 2 million in AI by 2026, the company will design an AI curriculum for schools and colleges in Gujarat. This educational initiative aims to equip students with the necessary knowledge and skills to excel in the field of AI.
Overall, the collaboration between IBM and the Government of Gujarat signifies a significant stride toward fostering innovation, cooperation, and technological advancement within the financial sector at GIFT City. By leveraging IBM’s Watsonx platform and expertise, financial institutions in GIFT City will have the opportunity to harness cutting-edge AI solutions to drive growth, efficiency, and competitiveness in the region. The partnership not only underscores IBM’s commitment to supporting digital transformation initiatives but also underscores the Government of Gujarat’s dedication to fostering a conducive environment for technological innovation and economic development.
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