Bengaluru: National Payments Corporation of India (NPCI) will partner with Indian Institute of Science (IISc) to conduct joint research on blockchain and Artificial Intelligence technology.
The collaboration will entail establishment of the NPCI-IISc Centre of Excellence for Deep Tech Research & Development. Faculty members from five IISc departments will work with NPCI researchers on practical challenges related to scalable blockchain platforms and multi-modal analytics over fintech data.
The partnership aims to solve complex technological and engineering problem statements in areas, including scalability, neural networks, Graph AI, and Large Language Models. NPCI announced the signing of a multi-year MoU with IISc on Wednesday.
"As our nation progresses towards digital sustainability, we recognise the significant potential for research in deep technologies such as blockchain and AI to further enhance the payment landscape,” Vishal Kanvaty, Chief Technology Officer, NPCI, said.
NPCI, an umbrella organisation that operates retail payments and settlement systems, has a bouquet of retail payment products, including UPI and BHIM.
Prof Navakanta Bhat, Dean, Division of Interdisciplinary Sciences, IISc, said the partnership would foster cutting-edge R&D of models and software prototypes and nurture professional development through workshops and training programmes.
Published 06 March 2024, 21:53 IST