Official announcements from Gujarat Govt or GIFT City website

Gujarat Govt Signs MoUs with IBM, Microsoft, and NASSCOM to Boost Innovation, Education, and AI Fintech Software at GIFT City

Jun 29, 2024, 02:10 PM

The Gujarat government has signed Memorandums of Understanding (MoUs) with IBM, Microsoft, and NASSCOM to enhance innovation and education in the region. These collaborations will establish a Deeptech Special Economic Zone (SEZ) for Banking, Financial Services, and Insurance (BFSI), an AI Center of Excellence, and launch capacity-building programs. IBM will focus on developing a digital assistant-based solution to facilitate the onboarding and integration of customized large language models for financial institutions at GIFT City. Additionally, AI fintech software will be developed. The Department of Science & Technology is spearheading these initiatives under the Deeptech Initiatives program. Sandip Patel, Managing Director for IBM India & South Asia, stated, 'Nowadays all enterprises are trying to use the technology of Artificial Intelligence.'