AI, machine learning will contribute $1 tn to Indian economy by 2035: Piyush Goyal

New Delhi: The NSE Knowledge Hub will enhance skills and help academic institutions in preparing future-ready talent for the financial service industry, said Union Minister Piyush Goyal, while inaugurating the National Stock Exchange (NSE) Knowledge Hub in New Delhi on Monday. 

Speaking on this occasion, Goyal said that although India has developed as the second-largest fintech hub in the world, a lot of work still needs to be done in the BFSI sector. He hoped that the Knowledge Hub created by NSE will fill in these gaps and help the financial sector to move into the future.

According to Goyal, the NSE Knowledge Hub is also available on mobile and attempts to bring together world-class content and learners through this state- of- the- art and future-ready platform.

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The Commerce and Industry minister said, "this industry-driven learning ecosystem will help India in building next-generation skills and capabilities in the BFSI sector," adding "the use of AI will ensure that the skill upgradation is affordable and accessible and helps in the creation of a workforce that is adequate for the requirements of the sector."

"AI and Machine Learning will contribute USD 1 trillion by 2035 and this is a good beginning by NSE to tap the potential of AI and use it as a tool to create a workforce in the BFSI sector in India," the minister added.

Assuring continued government support to investors and startups, Goyal said, "India is a safe investment destination today for investors, even the smallest of investors and this Knowledge Hub by NSE will strengthen and empower those working in the BFSI sector and will benefit investors and the financial services to give world-class services through knowledge, innovation and value- addition."