The Department of Science and Technology, Government of Gujarat signed a Memorandum of Understanding (MoU) on Saturday with the technology company IBM to establish and promote an AI Cluster leveraging IBM’s Watson to foster innovation and collaboration among financial institutions in Gujarat International Finance Tec (GIFT) City.
According to the MoU, financial institutions in GIFT City will gain 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, “This MoU with IBM will help Gujarat to lead the country in efforts to adopt AI and drive digital transformation.”
As part of this MoU, IBM will provide software technologies and platforms over a cloud environment enabling financial institutions to customize and fine-tune large language AI models in a sandbox environment. IBM will also aim to build a Digital assistant-based solution that facilitates the onboarding and integration of these customized large language models for financial institutions.
“Using AI for business is a strategic priority for enterprises today to gain competitive advantage through better productivity, innovation and customer experience,” said Sandip Patel, Managing Director, IBM India & South Asia.
He also added “This collaboration is a significant step in our continued association with the Government of Gujarat to accelerate the digital transformation of the state. By establishing this AI cluster, our aim is to make the latest AI solutions easily accessible to the vibrant and growing number of financial institutions in GIFT City.”
IBM also stated that it will develop an AI curriculum for schools and universities across Gujarat, which aligns with its commitment to skill 30 million people by 2030 and train 2 million learners in AI by the end of 2026.
“These MoUs are very detailed. We are also working to expedite the AI adoption in MSMEs. It is our effort to bring this futuristic technology to the people” said Mona Khandhar Principal Secretary of the Department of Science and Technology during the signing of MoU.
The collaboration also includes literacy programs and certifications for professionals in the state to enhance the skill sets of professionals, preparing the state’s talent for the AI-driven future economy.