IBM will be setting up an Artificial Intelligence (AI) cluster for the Banking, Financial Services and Insurance units operating in GIFT City in Gujarat. This cluster will help the BFSI units to experiment with AI and later scale it and develop AI capabilities for themselves.
“In GIFT City, you have a lot of BFSI units. Today all of them are trying to experiment or do something with AI. If we are able to provide our technical platform, capabilities and expertise to the BFSI participants in GIFT City --- almost as a sandbox environment --- then it enables them to experiment with AI and then ultimately scale it and build that AI-development capability for themselves here in GIFT City,” Sandip Patel, managing director of IBM said Saturday. Patel, on behalf of IBM, also signed a Memorandum of Understanding (MoU) with the Gujarat government in this regard.
“The reason why we are bringing this to the table, is because we believe that the platform that we have developed --- Watsonx --- enables you to organise data properly, allows you to use any models and build applications and use cases,” he added. The AI cluster will largely operate out of the IBM software labs in GIFT City. “The current model is to use the existing BFSI facilities and our facilities,” Patel said.
- Also read: Airtel increases tariffs by 11-20 per cent
Earlier, while addressing a formal event held at Gandhinagar, where Chief Minister Bhupendra Patel was present, the IBM MD said, “To make this successful, we need everyone to participate. So while we are bringing the infrastructure and platform, we are open to working with all the BFSI resident at GIFT and government entities. AI is the way of the future, and I welcome you to understand this technology. Whether you like it or not, you are going to live with it.”
“Our responsibility to bring trusted and responsible AI to enterprises becomes very important. That is the crux of the MoU we have signed today,” Sandip Patel added.
On Saturday, the Gujarat government, Microsoft, and Nasscom signed a second MoU for an AI Centre of Excellence at GIFT City, Gandhinagar. This centre will focus on developing sector-specific AI use cases, secure data exchange, infrastructure setup, AI model training, pilot projects, and the adoption of AI models across various sectors.
MoUs were also signed for a capacity-building programme for 25,000 students, which aims to train and certify students in AI and IT/ITeS-related skills to enhance their employability in the digital economy. The event also saw the launch of a STEM workshop for 10,000 high school students at Science City.