Campus Talk | IIT Bombay’s Hub for Data Science and Analytics to foster innovations in digital banking space
As per the information shared by the institute, a dedicated lab space is being set up at the Centre for Machine Intelligence and Data Science (C-MInDS) at IIT Bombay’s Powai campus.
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The Indian Institute of Technology Bombay has launched SBI Foundation Hub for Data Science and Analytics. (File) Aimed at fostering innovation in the digital banking space, the Indian Institute of Technology Bombay on Wednesday launched SBI Foundation Hub for Data Science and Analytics. In partnership with SBI’s CSR arm, the SBI Foundation, this hub will use the institute’s expertise in data science and analytics and artificial intelligence to address and solve real-world challenges in the Indian banking and financial services (BFS) sector.
As per the information shared by the institute, a dedicated lab space is being set up at the Centre for Machine Intelligence and Data Science (C-MInDS) at IIT Bombay’s Powai campus. It will facilitate research in emerging areas in fintech, and broaden the community of banking analytics professionals. Additionally, it will enhance competencies, expand the talent pool with expertise in banking analytics, and engage in other outreach activities.
As AI and data science is gaining importance across various sectors, knowledgeable individuals from this area are gaining popularity in industry, in changing times. Realising the market needs, the premier technology institute recently decided to make AI and Data Science mandatory for all its undergraduate students from this academic year, irrespective of the branch of engineering they are pursuing.
About the new partnership, director of the institute, Professor Subhasis Chaudhuri said, “This collaboration represents a significant milestone in our commitment to harnessing the power of Data Science and AI to revolutionize the banking and financial services industry. Through this partnership, we aim to not only drive innovation and cutting-edge research but also nurture a thriving community of skilled professionals in banking analytics.”
Speaking at the event, chairman, SBI, Dinesh Khara said, “At SBI, Data and AI are not just tools but integral parts of our strategy, enabling us to provide greater convenience, reliability, and innovation to our customers. Together with IIT Bombay, we endeavour to portray a new era in banking, fostering research, training, and upskilling, while enhancing our nation’s AI capabilities in BFSI analytics.”
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