IBM is set to create an artificial intelligence (AI) cluster for banking, financial services, and insurance units in GIFT City, Gujarat. The cluster will allow BFSI units to experiment with AI, scale it up, and develop AI capabilities for themselves. The CEO of IBM, Sandip Patel, stated that providing a technical platform, expertise, and capabilities to BFSI participants in GIFT City will enable them to explore AI and build AI development capabilities. IBM signed a Memorandum of Understanding (MoU) with the Gujarat government to establish this AI cluster, which will be primarily located in IBM’s software labs at GIFT City.
Patel emphasized the importance of incorporating AI technology for future growth and development, inviting all stakeholders in GIFT City to participate in this initiative. He highlighted the need for trustworthy and responsible AI applications in businesses, which is the core focus of the MoU signed with the Gujarat government. In addition to IBM’s collaboration, Microsoft and Nasscom also signed an MoU for an AI Centre of Excellence in GIFT City to develop sector-specific AI use cases, secure data sharing, infrastructure setup, AI model training, pilot projects, and adoption of AI models across various sectors.
Furthermore, MoUs were signed for a capacity building program aiming to train and certify 25,000 students in AI and IT/ITeS related skills to enhance their employability in the digital economy. The event also marked the launch of a STEM workshop for 10,000 secondary school students at Science City. The efforts to promote AI adoption and skill development signify a significant push towards leveraging technology for economic growth and innovation.
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