IBM to set up AI cluster for BFSI units in GIFT City, Gujarat

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.