Bajaj Finserv launches Finserv Intelligence for AI and Quantum Technologies

Key facts

• Bajaj Finserv will invest ₹1,500-2,000 crore over five years to build scalability in Artificial Intelligence (AI), cybersecurity, and quantum technologies.
• The company introduced the Finserv Intelligence initiative to develop scalable, secure, and low-cost technology solutions in India for the global market.
• A Memorandum of Understanding (MoU) was signed with the Indian Institute of Technology Bombay (IIT Bombay) to conduct research in retail experiences, AI, cybersecurity, and quantum technologies.
• The investment programme targets early-stage companies from seed to Series B in the fields of AI, cybersecurity, quantum technologies, fintech, and consumer technology platforms.
• The initiative responds to a National Institution for Transforming India (NITI Aayog) report noting that India's publicly funded gross R&D expenditure is 60% compared to 70% in advanced economies.