The National Payments Corporation of India (NPCI) has recently revealed that they have entered into a long-term Memorandum of Understanding (MoU) with the Indian Institute of Science (IISc) in Bangalore. This collaboration aims to facilitate joint research on the subjects of Blockchain and Artificial Intelligence (AI) technology.
The organization will also drive more innovation by creating the NPCI-IISc Centre of Excellence (CoE) for Deep Tech Research & Development.
The partnership will prioritize the development of blockchain platforms that can be expanded and multi-modal analytics that can be applied to fintech data. Researchers from five departments at IISc will collaborate with NPCI researchers to tackle real-world challenges in these fields.
Prof Navakanta Bhat, Dean, Division of Interdisciplinary Sciences, IISc, said, “This partnership will not only foster cutting-edge research and the development of models and software prototypes, but also nurture professional development through workshops and training programmes.”
Vishal Kanvaty, Chief Technology Officer, NPCI, said, “As our nation progresses towards digital sustainability, we recognize the significant potential for research in deep technologies such as blockchain and AI to further enhance the payment landscape, and we are grateful to have the bright minds assist us in this ambitious endeavour.”
