Globally-acclaimed Tech major IBM signs MoU with Gujarat Govt to promote AI cluster

By Team Startupcity  |  Tuesday, 02 July 2024, 13:05 IST

Globally-acclaimed Tech major IBM signs MoU with Gujarat Govt to promote AI cluster
US based tech giant IBM, and the Department of Science and Technology, Government of Gujarat have signed a Memorandum of Understanding (MoU) to create and promote an AI Cluster in Gujarat International Finance Tec (GIFT) City.
This alliance is aiming to make use of IBM’s watsonx to foster innovation and cooperation among financial institutions in GIFT City. The deal is expected to foster digital transformation in the region, providing advanced AI resources and solutions to local financial institutions.
Watsonx is IBM’s commercial generative AI and scientific data platform based on cloud, which was initially developed in the last year. It offers a studio, data store, and governance toolkit. It supports numerous languages of multiple large language models along with IBM's own Granite.
Financial institutions in GIFT City will be granted access to various AI resources as part of the MoU. These resources encompass an AI Sandbox, enabling institutions to conduct experiments and tailor large language AI models to suit their individual requirements. 
Additionally, they will be provided with assistance in creating and testing AI-powered solutions customized to their distinct needs through Proof of Concept Assistance.
Furthermore, AI Literacy Programs will provide tailored instruction and accreditation to prepare professionals with the essential expertise to excel in an AI-dominated financial environment.
The Hon’ble Chief Minister of Gujarat, Shri Bhupendrabhai Patel stated that, the MoU with IBM would help Gujarat to lead the country in the path of adopting AI and drive digital transformation.
Sandip Patel, Managing Director of IBM India & South Asia, emphasized the strategic importance of AI in today's business landscape.
Sandip also added, “Using AI for business is a strategic priority for enterprises today to gain competitive advantage through better productivity, innovation and customer experience. This collaboration is a significant step in our continued association with the Government of Gujarat to accelerate the digital transformation of the state.”
In the upcoming days, IBM is planning to provide digital assistant-based solution to facilitate the onboarding and integration of these customized AI models for financial institutions. they are also planning to introduce AI curriculum for schools and universities across Gujarat. This is a part of their initiative to skill 30 million people by 2030 and train 2 million learners in AI by the end of 2026.

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