Nationwide hackathon for developers, students, professionals, start-ups & fintechs to showcase innovative solutions and co-create with the Bank
Top three winners will be awarded cumulative prize money of Rs 10 lakh
HYDERABAD (India CSR): Bank of Baroda, in collaboration with Microsoft, has launched a nationwide online hackathon on Generative Artificial Intelligence (GenAI). This event aims to inspire participants to develop innovative GenAI solutions for specific business areas defined by the Bank.
Participants can be developers, students, professionals, start-ups, and fintechs, competing individually or in teams of up to four members. The top three teams will receive cash prizes of Rs 5 lakh, Rs 3 lakh, and Rs 2 lakh. The Bank will consider implementing the best ideas from the hackathon.
The hackathon will focus on six key areas:
- customer service,
- financial advisory,
- audit & compliance,
- risk management,
- operational efficiency, and
- personalized content generation.
The event spans two months, starting with ideation and prototype development.
Sanjay Mudaliar, Executive Director of Bank of Baroda, emphasized the Bank’s commitment to innovation and the potential of Generative AI to transform banking. He expressed confidence in creating transformative solutions through collaboration with innovators and Microsoft.
Puneet Chandok, President of Microsoft India and South Asia, highlighted the shared vision with Bank of Baroda for a tech-powered India. He looks forward to seeing developers utilize Azure OpenAI’s capabilities to create unique digital solutions for the Indian banking sector.
Contestants can register and submit their ideas on the hackathon website from 10th June 2024 to 30th June 2024. Shortlisted teams will develop prototypes and receive Azure credits, technical resources, and mentoring sessions from Microsoft and Bank of Baroda experts.
Here is a table summarizing the key facts about the Bank of Baroda’s Generative AI Hackathon in collaboration with Microsoft:
| Key Facts | Details |
|---|---|
| Event | Generative AI Hackathon |
| Organizers | Bank of Baroda in collaboration with Microsoft |
| Participants | Developers, students, professionals, start-ups, fintechs |
| Team Size | Maximum of four members per team |
| Duration | Two months |
| Focus Areas | – Customer service – Financial advisory – Audit & compliance – Risk management – Operational efficiency – Personalized content generation |
| Prizes | – 1st Place: Rs 5 lakh – 2nd Place: Rs 3 lakh – 3rd Place: Rs 2 lakh |
| Registration Period | 10th June 2024 to 30th June 2024 |
| Submission Requirements | Ideation and prototype development |
| Support for Shortlisted Teams | Azure credits, technical resources, mentoring sessions |
| Website for Registration | bobhackathon.com |
