NewsVoir
Mumbai (Maharashtra) [India], June 25: ID8NXT presents a nationwide hybrid hackathon in collaboration with public sector bank Bank of Baroda, focused on Generative Artificial Intelligence. This initiative aims to inspire participants to develop innovative solutions using GenAI to address specific business challenges faced by the bank.
Participants will compete for cash prizes, with the top three teams receiving Rs. 5 lakh, Rs. 3 lakh, and Rs. 2 lakh, respectively. The bank plans to implement the most promising ideas that emerge from the hackathon.
The event is open to individuals and teams including developers, students, professionals, and startups. Participants will work on ideation and prototype development in six key areas: customer service, financial advisory, audit and compliance, risk management, operational efficiency, and personalized content generation.
Sanjay Mudaliar, Executive Director, Bank of Baroda, said, "Bank of Baroda is committed to staying at the forefront of innovation. The advent of Generative Artificial Intelligence marks a new frontier in the banking industry, offering new ways to enhance customer experiences, streamline operations, and drive efficiencies, we believe that collaborating with innovators can create transformative solutions that will redefine the banking landscape. We are pleased to partner with Microsoft in this initiative."
Puneet Chandok, President, Microsoft India and South Asia, said, "Through the Gen AI Hackathon, we look forward to developers utilising Azure OpenAI's capabilities to architect unique digital solutions for the Indian banking sector."
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