New Delhi [India], Department of Science and Technology, Government of Gujarat on Saturday signed a Memorandum of Understanding (MoU) with technology company IBM to establish and promote an AI cluster leveraging IBM's Watson to foster innovation and collaboration between financial institutions in City of Gujarat International Finance Tec (GIFT).
Under the MoU, GIFT City financial institutions will get access to AI Sandbox, assistance in providing proof of concept, AI literacy programs and digital assistant solutions.
Speaking on the occasion, Gujarat Chief Minister Bhupendrabhai Patel said, "This MoU with IBM will help Gujarat lead the country in efforts to adopt AI and drive digital transformation."
As part of this MoU, IBM will provide software technologies and platforms in a cloud environment that will enable financial institutions to customize and tune AI models in large languages in a sandbox environment. IBM will also aim to build a digital assistant-based solution that facilitates the onboarding and integration of these large custom language models for financial institutions.
"Using AI for business is a strategic priority for today's enterprises to gain competitive advantage through improved productivity, innovation and customer experience," said Sandip Patel, CEO, IBM India and the South of Asia.
He also added, "This collaboration is an important step in our continued partnership with the Government of Gujarat to accelerate the state's digital transformation. By establishing this AI cluster, we aim to make the latest AI solutions easily accessible to the vibrant and increasing "Number of financial institutions in GIFT City."
IBM also stated that it will develop an AI curriculum for schools and universities in Gujarat, which aligns with its commitment to train 30 million people by 2030 and train 2 million students in AI by the end of 2026.
"These MoUs are very detailed. We are also working to accelerate the adoption of AI in MSMEs. Our endeavor is to bring this futuristic technology to the people," said Mona Khandhar, Principal Secretary, Department of Science and Technology, during the signing of the MoU.
The collaboration also includes literacy programs and certifications for the state's professionals to upskill professionals, preparing the state's talent for the future AI-driven economy.
Under the MoU, GIFT City financial institutions will get access to AI Sandbox, assistance in providing proof of concept, AI literacy programs and digital assistant solutions.
Speaking on the occasion, Gujarat Chief Minister Bhupendrabhai Patel said, "This MoU with IBM will help Gujarat lead the country in efforts to adopt AI and drive digital transformation."
As part of this MoU, IBM will provide software technologies and platforms in a cloud environment that will enable financial institutions to customize and tune AI models in large languages in a sandbox environment. IBM will also aim to build a digital assistant-based solution that facilitates the onboarding and integration of these large custom language models for financial institutions.
"Using AI for business is a strategic priority for today's enterprises to gain competitive advantage through improved productivity, innovation and customer experience," said Sandip Patel, CEO, IBM India and the South of Asia.
He also added, "This collaboration is an important step in our continued partnership with the Government of Gujarat to accelerate the state's digital transformation. By establishing this AI cluster, we aim to make the latest AI solutions easily accessible to the vibrant and increasing "Number of financial institutions in GIFT City."
IBM also stated that it will develop an AI curriculum for schools and universities in Gujarat, which aligns with its commitment to train 30 million people by 2030 and train 2 million students in AI by the end of 2026.
"These MoUs are very detailed. We are also working to accelerate the adoption of AI in MSMEs. Our endeavor is to bring this futuristic technology to the people," said Mona Khandhar, Principal Secretary, Department of Science and Technology, during the signing of the MoU.
The collaboration also includes literacy programs and certifications for the state's professionals to upskill professionals, preparing the state's talent for the future AI-driven economy.
