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AI, machine learing to contribute USD 1 Tn to economy by 2035: Goyal

By TIOL News Service

NEW DELHI, JAN 06, 2020: THE Commerce and Industry & Railways Minister, Mr Piyush Goyal, today inaugurated the National Stock Exchange (NSE) Knowledge Hub in New Delhi, an Artificial Intelligence (AI) powered learning ecosystem that would assist the banking, financial services and insurance (BFSI) sector. Speaking on this occasion Commerce & Industry Minister said that although India has developed as the second largest fintech hub in the world, a lot of work still needs to be done in the BFSI sector. He hoped that the Knowledge Hub created by NSE would fill in these gaps and help the financial sector to move into the future.

The NSE Knowledge Hub would enhance skills and help academic institutions in preparing future-ready talent for the financial service industry. It is also available on mobile and attempts to bring together world class content and learners through this state- of- the- art and future- ready platform.

Commerce and Industry Minister said that this industry driven learning eco system would help India in building next generation skills and capabilities in the BFSI sector. The use of AI would ensure that the skill upgradation is affordable and accessible and helps in the creation of a workforce that is adequate for the requirements of the sector said Piyush Goyal. AI and Machine Learning would contribute USD 1 trillion by 2035 and this is a good beginning by NSE to tap the potential of AI and use it as a tool to create a workforce in the BFSI sector in India added the Minister.

Commerce and Industry Minister assured continued Government support to investors and startups and said that India is a safe investment destination today for investors, even the smallest of investors and this Knowledge Hub by NSE would strengthen and empower those working in the BFSI sector and would benefit investors and the financial services to give world class services through knowledge, innovation and value-addition.


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