National University of Science and Technology (NUST) in collaboration with Askari Bank Limited (AKBL) inaugurated a Digital Innovation Laboratory, a first of its kind in Pakistan.

The Askari Digital Innovation Lab will comprise a dedicated team of Data Scientists who will work on Machine Learning and Artificial Intelligence models to create new intellectual property (IP) for the bank. Housed within the space of National Science & Technology Park (NSTP) located at the NUST Islamabad campus. These premises shall also serve as a base to attract and evaluate start-ups for potential investment by the Bank.

The inauguration ceremony was attended by Mr Shehryar Ali Shah, Chief Digital Officer AKBL, and Dr Rizwan Riaz, Pro-Rector Research, Innovation & Commercialization, NUST. Also present at the event were Mr Rashid Zaman Khan, Chief Information Officer AKBL, Mr Jawad Khalid Mirza, Chief Information Security Officer AKBL, Mr Muhammad Anwar Fareed, Director NUST Innovation and Commercialization, and other senior officials from both organizations.

Mr Khurshid Zafar, Chief Operation Officer AKBL, conveyed his best wishes for the project and said that he aspires that this project will not only create IP for further customer acquisition, retention, and value-added services, but also serve as a recruitment and training ground for the next generation of Data Scientists for the bank.

Speaking at the event, Dr Rizwan Riaz stressed the need for fostering partnerships between academia and industry which can grow to develop scalable digital products.

Related: NUST remains Pakistan’s top university in QS Rankings 2023

Avatar photo
Author

Arsalan Haider is a reporter at Academia Mag and has worked with leading national dailies and news channels. He tweets @arsalanhaider14

Write A Comment