IBM and the Gujarat government have agreed to build and promote an AI cluster in Gujarat International Finance Tec (GIFT) City that would use IBM's 'watsonx' to foster innovation and collaboration across financial institutions. Financial institutions will have access to the AI Sandbox, as well as assistance with proof-of-concept development, AI literacy programs, and digital assistant solutions.

 

"IBM and the Department of Science and Technology, Government of Gujarat today entered a Memorandum of Understanding (MoU) to establish and promote an AI Cluster leveraging IBM's watsonx to foster innovation and collaboration among financial institutions in Gujarat International Finance Tec (GIFT) City," the release said.

 

Watsonx, developed by IBM, is a business-ready AI and data platform. Gujarat's Chief Minister, Bhupendra Patel, said:: "This MoU with IBM will help Gujarat to lead the country in efforts to adopt AI and drive digital transformation."

 

As per Sandip Patel, Managing Director of IBM India and South Asia, the adoption of AI in business is a strategic goal for organizations seeking a competitive advantage through improved efficiency, 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. 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," he added.