PayPal has unveiled its newest Innovation Labs at the Chennai and Bengaluru Tech centres. The lab is the first by PayPal in India and third after the U.S. and Singapore. The firm said the lab will serve as a platform to promote innovation which is a core value for PayPal globally.
Diverse fields
These labs will actively support innovation across diverse fields including machine learning, artificial intelligence, data science and Internet of Things. The other areas include software defined radios and wireless communication and augmented reality and virtual reality. “India is a hotbed for innovation given its evolving start-up ecosystem, diverse merchant profiles and enormous talent pool,” said Mike Todasco, director of Innovation, PayPal, in a statement.
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To cater to their needs in the most effective manner, the focus of the innovation labs will be on fuelling new age technology and “giving rise to unconventional ideas with the potential to transform the ecosystem we operate in,” said Mr. Todasco.