IIT Bombay and CloudMojo Tech Pvt. Ltd. Join Forces to Drive AI-Powered Digital Transformation
IIT Bombay, one of India's premier institutions renowned for its excellence in technological education and research, and CloudMojo Tech Private Limited, an innovation driven Mumbai-based technology startup, have officially entered a Memorandum of Understanding (MoU) on 23rd February 2024. The signing ceremony took place at the IIT Bombay campus in Powai, Mumbai.
The MoU establishes a collaborative partnership for a period of three years, focusing on the development and deployment of innovative products, emphasizing digitization, digital transformation, and automation using artificial intelligence.
The MoU was signed by the dean R&D IIT Bombay, prof Sachin Patwardhan, and CEO, CloudMojo, A. Parvez Banatwala in the presence of COO, Captain M.S. Kapoor & professor in-charge Mahesh Hanawal of the Technocraft Centre for Artificial Intelligence (TCA2I), IIT-Bombay and Sr. VP, Technology, CloudMojo, Milind Patil.
Key areas of collaboration include leveraging of AI/ML technologies for the transformation of unstructured digital data into structured databases, hyper-automation of digitization projects, and extracting valuable data insights.
As part of the partnership, CloudMojo will establish an AI lab within TCA2I, IIT Bombay, dedicated to fostering knowledge exchange. This center will adeptly address complex industry use cases, collaborating on joint projects harnessing the combined technical proficiency of IIT Bombay and CloudMojo's own technical team.
In a joint statement, the signatories expressed their enthusiasm for the collaboration, highlighting the potential for groundbreaking research, technological innovation, and the development of skilled professionals in the ever-evolving landscape of digitization and artificial intelligence.
The MoU is a testament to the commitment of both institutions to contribute significantly to technological advancements and further strengthen the collaboration between academia and industry.