US-based tech giant IBM has signed a Memorandum of Understanding (MoU) with the Department of Science and Technology, Government of Gujarat, to establish an AI Cluster in Gujarat International Finance Tec (GIFT) City. This partnership aims to use IBM’s Watsonx to drive innovation and collaboration among financial institutions in GIFT City, enhancing the region’s digital transformation.
What is Watsonx?
Watsonx is IBM’s cloud-based commercial generative AI and scientific data platform, launched in May last year. It features a studio, data store, and governance toolkit, and supports various large language models, including IBM’s own Granite.
Access to Advanced AI Resources
The MoU ensures that financial institutions in GIFT City will have access to advanced AI resources. These include:
AI Sandbox: Allows institutions to experiment with and customize large language AI models.
Proof of Concept Assistance: Provides support in developing and testing AI-powered solutions tailored to specific needs.
AI Literacy Programs: Offers specialized training and certification to equip professionals with necessary AI skills.
AI-Powered Digital Assistants: Helps develop and deploy AI-powered assistants to improve operations and customer experiences.
Leadership Comments
Shri Bhupendrabhai Patel, the Chief Minister of Gujarat, said, “This MoU with IBM will help Gujarat lead the country in adopting AI and driving digital transformation.” Sandip Patel, Managing Director of IBM India & South Asia, highlighted the importance of AI in today’s business world, stating, “Using AI for business is a strategic priority for enterprises to gain a competitive advantage through better productivity, innovation, and customer experience. This collaboration marks a significant step in our continued partnership with the Government of Gujarat to accelerate the state’s digital transformation.”
Providing Technologies Over a Cloud Environment
IBM will offer software technologies and platforms over a cloud environment, allowing financial institutions to customize and refine large language AI models securely. They also plan to develop digital assistant-based solutions to facilitate the integration of these customized AI models. Additionally, IBM is committed to launching an AI curriculum for schools and universities across Gujarat. This educational initiative aligns with IBM’s global goal to skill 30 million people by 2030 and train 2 million learners in AI by the end of 2026.
This partnership between IBM and the Gujarat government marks a significant step towards advancing AI adoption and digital transformation in the region. By leveraging IBM’s cutting-edge technologies and expertise, the AI Cluster in GIFT City is set to become a hub of innovation, fostering growth and development in the financial sector.
