BENGALURU: Kotak Mahindra Bank Limited (KMBL) and the Indian Institute of Science (IISc) today announced a partnership to set up a state-of-the-art Artificial Intelligence & Machine Learning (AI-ML) Centre (Kotak-IISc AI-ML Centre) at the IISc campus in Bengaluru.
Under its CSR project on Education & Livelihood, KMBL has partnered IISc to establish the Kotak-IISc AI-ML Centre (Centre). Spread across approximately 1,40,000 square feet at the IISc campus, Bengaluru, the Centre will offer Bachelor’s, Master’s and short-term courses in areas such as artificial intelligence, machine learning, deep learning, fintech, reinforcement learning, image processing, computer vision, natural language processing, speech understanding, robotics, computational finance and risk management, cyber security, fraud analytics, blockchain, biomedical engineering and technology, healthcare, etc.
The Centre will also promote research and innovation in AI and ML and develop the talent pool from across the country to provide cutting-edge solutions to meet industry’s emerging and future requirements.
Prof. Govindan Rangarajan, Director, Indian Institute of Science (IISc) said, “As IISc continues to deliver on its mandate to provide advanced scientific and technological research and education, it is partnerships with forward-thinking institutions such as Kotak Mahindra Bank that will help us to scale up substantially and position India as a deep tech innovation hub. The future is exciting and we are delighted to welcome Kotak Mahindra Bank on board.”
Rohit Rao, Joint President & Group Chief CSR Officer, Kotak Mahindra Bank Limited said, “The Kotak-IISc AI-ML Centre will be a Centre of Excellence that will offer academic courses and also undertake research & innovation to further enhance India’s scientific capabilities. The Centre is envisaged to be the Gangotri of advanced sciences encompassing education, research and innovation in artificial intelligence and machine learning to develop the next generation of leaders in the areas of IT and robotics and champion India’s technology advancement.”
Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd.
The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th June, 2021, Kotak Mahindra Bank Ltd has a national footprint of 1,612 branches and 2,591 ATMs, and branches in GIFT City and DIFC (Dubai).
Indian Institute of Science, Bengaluru, is a world class university set up in 1909, by a visionary partnership between industrialist Jamsetji Nusserwanji Tata, the Mysore royal family and Government of India. Since its inception, the Institute has laid a balanced emphasis on the pursuit of basic knowledge in science and engineering, as well as on the application of its research findings for industrial and social benefit.
IISc was one of the first Institutes to be declared as an Institution of Eminence (IoE) by the Government of India. According to the QS World University Rankings 2022, the Institute is the world’s top research university in terms of citations per faculty. IISc has played a pioneering role in AI research and pedagogy. It now ranks among the top 50 institutes in the world in the areas of AI, Machine Learning, and Natural Language Processing, and has vibrant and vast expertise in AI-ML foundations and transformational applications.
