The National Payments Corporation of India (NPCI) has officially entered a multi-year memorandum of understanding with the Indian Institute of Science (IISc) in Bangalore, focusing on collaborative research in blockchain and artificial intelligence technology. This partnership aims to drive innovation and establish the “NPCI-IISc Centre of Excellence for Deep Tech Research and Development.” NPCI’s chief technology officer, Mr. Vishal Kanvaty, emphasized the significance of this collaboration in advancing the nation’s digital sustainability goals, recognizing the potential of deep technologies to enhance the payment landscape.
The NPCI-IISc collaboration will address practical challenges in scalable blockchain platforms and multi-modal analytics over fintech data. Faculty members from five IISc departments will engage with NPCI researchers to foster cutting-edge research and development. Beyond its research focus, the initiative will contribute to professional development through workshops and training programs, according to the Dean of the Division of Interdisciplinary Sciences at IISc, Mr. Navakanta Bhat. The partnership strategically aligns with NPCI’s goal to solve complex technological problems, covering scalability, privacy-preserving designs, neural networks, graph AI, and large language models.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.