Tech major 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 aims to leverage IBM’s watsonx platform to foster innovation and cooperation among financial institutions in GIFT City. The initiative is expected to drive 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 the cloud, developed last year. It offers a studio, data store, and governance toolkit and supports numerous languages of multiple large language models along with IBM’s own Granite.
As part of the MoU, financial institutions in GIFT City will gain access to various AI resources, including an AI Sandbox, which enables institutions to experiment and tailor large language AI models to their specific requirements. Additionally, they will receive assistance in creating and testing AI-powered solutions customized to their distinct needs through Proof of Concept assistance.
AI Literacy Programs will provide tailored instruction and accreditation to equip professionals with the necessary expertise to excel in an AI-driven financial environment.
The Hon’ble Chief Minister of Gujarat, Shri Bhupendrabhai Patel, stated that the MoU with IBM would help Gujarat lead the country in adopting AI and driving digital transformation.
Sandip Patel, Managing Director of IBM India & South Asia, emphasized the strategic importance of AI in today’s business landscape. He 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 coming days, IBM plans to provide digital assistant-based solutions to facilitate the onboarding and integration of these customized AI models for financial institutions. They also plan to introduce an AI curriculum for schools and universities across Gujarat. This is part of their initiative to skill 30 million people by 2030 and train 2 million learners in AI by the end of 2026.
