Telangana AI Mission (T-AIM) in partnership with Wells Fargo has launched an Academic Grand Challenge that is open to all student innovators in the country and involves building two solutions.
The objective is to scout for talented student teams that will provide innovative and viable solutions using emerging technologies like Artificial Intelligence (AI) to assist Wells Fargo with two use cases.
The winning teams will receive prize money and merchandise worth ₹5 lakh. Student teams will be selected based on their approach note and the shortlisted teams will get eight weeks to present a proof of concept. The submissions will be judged based on approach, technique and result. The deadline to submit approach notes is September 16 and the winner will be announced in November.
Registrations for the challenge have begun. One of the two challenges involves building a futuristic, pure digital bank that integrates modern technologies to enable banking wherever and whenever, while the other is for building a predictive analytics model to estimate financial markets performance during this year.
“It is highly encouraging to see private industry encourage young talent... modern technologies, including AI, have the innate ability to transform various sectors, including banking,” Industries and IT Secretary Jayesh Ranjan said. T-AIM is an initiative of Telangana government and powered by Nasscom.
EVP and MD of Wells Fargo India and Philippines Arindam Banerrji said, “Students are one of our best sources of original ideas. As an organisation that looks to engage early talent for customer-centric ideas and innovations, we hope that the Academic Grand Challenge will give students an opportunity to use their fresh, out-of-the-box thinking to create innovative solutions.”
