MoU inked between AJNIFM and Microsoft
Arun Jaitley National Institute of Financial Management (AJNIFM) and Microsoft have inked a Memorandum of Understanding (MoU) for building an Artificial Intelligence (AI) and emerging technologies Centre of Excellence at AJNIFM.
Why MoU was signed?
- The MoU seeks to explore role of cloud, AI and emerging technologies to transform and shape future of public finance management across India.
- Centre of Excellence will act as a central body for research, AI scenario envisioning and tech led innovation.
- AJNIFM and Microsoft will explore use cases of emerging technologies in finance and related areas across central & state ministries and public sector enterprises.
- Both will work closely to define future of public finance management across India. They will also provide technology, tools & resources for building strong ecosystem of partners.
- They will also work closely on capacity building program for senior government officials across associated ministries, departments and financial institutions.
- Under the skilling programme, public sector officials will be trained on application of emerging technologies in finance management in order to address potential risks such as money laundering, use of machine learning models etc.
- They will also build an innovation centre to drive AI envisioning in finance management.
- They will engage ecosystem partners, academia and MSMEs to drive innovation in financial management on the basis of priority scenarios.
Arun Jaitley National Institute of Financial Management (AJNIFM) is a Center of Excellence which specialises in capacity building of professionals across the fields of Public Policy, Financial Management and governance issues to promote highest standards of professional competence & practice. It was set up in 1993. It is registered as a society under Ministry of Finance.
Month: Current Affairs - July, 2021