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.'