UC San Diego Takes Steps to Establish Globally Recognized Fintech Institute

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• Cynthia Dillon- [email protected]

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With financial technology (fintech) a focal point of India's changing 21^st century economy, the University of California San Diego has joined a consortium in partnership with Gujarat International Finance Tec-City (GIFT City), Ahmedabad University and IIT Gandhinagar to launch the GIFT International Fintech Institute (GIFT IFI) aimed at establishing India as a global leader in fintech. As the first university of its kind in the U.S. to step into the economic growth trajectory of India and the surrounding region, UC San Diego will help deliver advanced training and research and nurture top talent to meet the sector's evolving needs.

"UC San Diego continues to rise as an academic institution attracting talent worldwide and producing extraordinary leaders in their disciplines," said Chancellor Pradeep K. Khosla. "As the first American university to establish a presence [in GIFT City], we are proud to contribute to the growth and transformation of India's fintech sector."

UC San Diego's commitment to engagement with and service of local, regional, national and world communities is evident through endeavors such as its Global Initiatives. The formation of GIFT IFI began taking shape a few years ago, according to Prabal Gupta, who is part of the consortium's think tank ecosystem and serves as executive director of U.S.-India Initiatives in the Chancellor's Office at the university.

"To establish a globally recognized fintech institute, our vision is to combine cutting-edge academic courses and research developed by the consortium with strong and sustained partnerships with top Indian fintech firms and industry leaders. Together, we can cultivate the next generation of leaders, ensuring the future of fintech thrives on a foundation of innovation, collaboration and expertise," Gupta said.

GIFT IFI builds upon the advances in hyper-scale computing and data sciences led by the new School of Computing, Information and Data Sciences (SCIDS) at UC San Diego. With the unique strengths of its two foundational pillars-artificial intelligence (AI) research and education at the Halıcıoğlu Data Science Institute (HDSI) and high-performance computing and innovative data applications at the San Diego Supercomputer Center (SDSC), the institute leverages these capabilities to accelerate the translation of foundational research into advanced technologies and practice in the financial industry.

"SCIDS aims to improve the human condition by better understanding how data shapes society, and by preparing the next generation of highly skilled workers driving artificial intelligence advancements," said Interim Dean Rajesh K. Gupta. "The school serves as a catalyst for increasing interdisciplinary collaborations and for impacting society by translating foundational research into practice to solve the most pressing societal challenges."

Engagement with industry partners is a primary objective for SCIDS education in terms of preparing the 21^st century workforce, and it is another important step for GIFT IFI on its path to success. UC San Diego's role as the consortium's technology arm carries implications for AI, blockchain, cybersecurity and more.

According to Vice Chancellor of Ahmedabad University Professor Pankaj Chandra, GIFT IFI will deliver a flexible, industry-aligned educational model, offering stackable programs starting with fintech foundations, cybersecurity, finance for fintech and AI/ML for fintech applications. The programs, designed for diverse learners-from recent graduates to mid-career professionals-will allow participants to accumulate credentials that can build toward diplomas or degrees over time, empowering fintech professionals to upskill continuously and meet the sector's rapidly changing demands.

"Our interdisciplinary strengths in understanding of finance and accounting on the one hand, computer science, quantum and statistics on the other, and strong capabilities in application domains like climate, security, health, underserved communities provide us with a phenomenal opportunity to work collaboratively with industry in building state-of-the-art programs around fintech," said Chandra. "We bring to bear our advanced research capabilities to provide new ideas for industry and the regulators. This institute will be built on real problems and in close partnership with the fintech industry ecosystem."

According to Professor Rajat Moona, director of IIT Gandhinagar, the launch of GIFT IFI brings an inspiring opportunity to redefine education, research and entrepreneurship in the Indian fintech domain through curated skill development and training programs. "I believe this consortium will create a platform that builds talent, critical thinking and entrepreneurial spirit, paving the way for a generation of global fintech leaders to transform India's economic landscape," he said.

Learn more about research and education at UC San Diego in: Artificial Intelligence