The Arun Jaitley National Institute of Financial Management (AJNIFM) and Microsoft announced a strategic partnership to build an AI and emerging technologies centre of excellence at AJNIFM. The collaboration seeks to explore the role of cloud, AI and emerging technologies in transforming and shaping the future of public finance management in India.
The centre of excellence will serve as a central body for research, AI scenario envisioning and tech-led innovation. AJNIFM and Microsoft will jointly explore use cases of emerging technologies in finance and related areas, across central and state ministries and public sector enterprises. Microsoft will partner closely with AJNIFM to define the future of public finance management in India, providing the technology, tools and resources to build a strong ecosystem of partners, upskill government officials and build thought leadership.
As part of the strategic partnership, Microsoft and AJNIFM will focus on:
- Building an innovation centre: Joint development of a centre of excellence at AJNIFM to drive AI envisioning in finance management across key associated ministries of AJNIFM.
- Industry thought leadership: Microsoft and AJNIFM will jointly develop research papers and organize strategic knowledge-sharing workshops with industry experts to discuss the role of cloud, data and AI for re-imagining public finance management in India.
- Reskilling and capacity building: Developers at AJNIFM and senior government officials from associated ministries will be skilled in data engineering, data sciences, AI and machine learning etc.
- Creating a strong ecosystem of partners: Engaging ecosystem partners, academia and MSMEs to drive innovation in financial management based on priority scenarios.