National Stock Exchange (NSE), on January 6, launched an artificial intelligence (AI)-powered platform, NSE Knowledge Hub, to assist banking, financial services and insurance (BFSI) industry and educational institutions in educating and skilling employees and students for the opportunities in the financial sector.
For the trial period, NSE Academy, which is managing the NSE Knowledge Hub, will focus on 100 BFSI companies and educational institutions. Just like Netflix keeps a track of users’ entertainment behaviour and Amazon knows about the users’ shopping behaviour, NSE Knowledge Hub will keep a track of users’ learning behaviour, NSE Academy’s CEO Abhilash Misra said.
Misra also added that NSE Knowledge Hub will create a personalized learning experience after tracking the behaviour of learners and availability of content. It will also identify and curate by deploying Subject Matter Experts (SMEs), curators and trainers for the curation mechanism. NSE Academy believes that this will enable the users to grasp knowledge easily. The platform will allow users to share the information using live video streaming capabilities and the ability to create individualised learning pathways.
The event was also attended by Union minister Piyush Goyal, who expressed his interest to tie up with NSE Knowledge Hub to enhance the capabilities and skills of 13 lakh railway employees. He highlighted that the elementary knowledge of finance will ensure that railway employees are able to understand the importance of numbers and do their own financial planning.
Citing an Accenture report, Goyal said that AI and Machine learning has the potential to contribute $1 Tn to the Indian economy by 2035. “If we were to make this as an endgame of our engagement with AI, initiatives like Knowledge Hub are a great way to get the financial world involved in achieving the target,” he added.
Goyal went on to add that AI has a huge potential in ensuring ease of doing business and ease of living. The union minister also said that AI can prove to be beneficial to farmers as it can provide opportunities to double their income.
“I see no area where we can’t use AI or machine learning. Crime detection, better border control and international trade — there is huge scope to engage in each of these areas. AI can be used in India for both economic activity and social good,” Goyal added.