NPCI and IISc: Advancing Blockchain and AI Research
In a monumental leap towards technological advancement, the National Payments Corporation of India (NPCI) has forged an alliance with the esteemed Indian Institute of Science (IISc), Bangalore. This collaboration, delineated through a multi-year Memorandum of Understanding (MoU), represents a significant stride forward in the domains of blockchain and artificial intelligence (AI) research.
Establishment of the NPCI-IISc Center of Excellence:
At the heart of this partnership lies the creation of the "NPCI-IISc Centre of Excellence (CoE) for Deep Tech Research and Development." Envisioned as a nucleus for pioneering exploration and innovation, this CoE will serve as a crucible for groundbreaking research at the confluence of fintech, blockchain, and AI.
Scalable Blockchain Platforms and Multi-Modal Analytics:
The collaboration between NPCI and IISc will prioritize research in scalable blockchain platforms and multi-modal analytics over fintech data. Drawing upon the expertise of NPCI researchers and faculty members from diverse departments at IISc, the aim is to address practical challenges in these cutting-edge domains.
Nurturing Technological Innovation:
IISc, renowned for its prowess in advanced research across various disciplines, brings invaluable expertise to the table. This collaboration is poised to tackle complex engineering challenges, including scalability, privacy-preserving designs, neural networks, graph AI, and large language models (LLM), thereby nurturing technological innovation in India's fintech landscape.
Vishal Kanvaty, NPCI's Chief Technology Officer:
Expressing fervent optimism about the partnership, Kanvaty underscores NPCI's commitment to leveraging emerging technologies to enhance consumer experiences. He views the collaboration with IISc as a strategic step towards driving innovation and shaping the future of India's payment ecosystem.
Prof. Navakanta Bhat, Dean of the Division of Interdisciplinary Sciences at IISc:
Prof. Bhat emphasizes the transformative potential of the collaboration, envisioning it as a catalyst for cutting-edge research and the development of practical solutions. The partnership aims to go beyond theoretical exploration, fostering the creation of tangible software prototypes and models.
Prof. Yogesh Simmhan, Associate Professor at the Department of Computational and Data Sciences, IISc
Simmhan underscores the translational research opportunities inherent in the collaboration. He anticipates that joint research endeavors between NPCI and IISc will lead to tangible enhancements in scalability, efficiency, and effectiveness across billion-scale platforms managed by NPCI.
