IBM signs MoU with Gujarat govt to establish AI cluster in GIFT City

US-based technology company 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.

The collaboration aims to leverage IBM’s watsonx to foster innovation and cooperation among financial institutions in GIFT City.

The MoU is expected to drive digital transformation in the region, providing advanced AI resources and solutions to local financial institutions.

What is Watsonx?

Watsonx, which was initially launched in May last year, is IBM's commercial generative AI and scientific data platform based on cloud. It offers a studio, data store, and governance toolkit. It supports multiple large language models along with IBM's own Granite

Enabling access to several AI resources

As part of the MoU, financial institutions in GIFT City will have access to several AI resources. These include an AI Sandbox, which allows institutions to experiment with and customize large language AI models to meet their specific needs.

They will also receive support in developing and testing AI-powered solutions tailored to their unique requirements through Proof of Concept Assistance. 

Additionally, AI Literacy Programs will offer specialized training and certification to equip professionals with the necessary skills to thrive in an AI-driven financial landscape.

Finally, assistance will be provided in developing and deploying AI-powered digital assistants to streamline operations and enhance customer experiences.

Leadership comments

Shri Bhupendrabhai Patel, the Hon’ble Chief Minister of Gujarat, stated, “This MoU with IBM will help Gujarat to lead the country in efforts to adopt 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.

“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," he added.

Providing technologies over a cloud environment

IBM will provide software technologies and platforms over a cloud environment, enabling financial institutions to customize and refine large language AI models in a secure sandbox setting.

Additionally, IBM plans to develop a digital assistant-based solution to facilitate the onboarding and integration of these customized AI models for financial institutions. The tech giant is also committed to rolling out an AI curriculum for schools and universities across Gujarat.

The educational initiative aligns with IBM’s global commitment to skill 30 million people by 2030 and train 2 million learners in AI by the end of 2026.