Universal Business School (UBS) Mumbai, and Vitti Foundation have signed a Joint Venture Agreement to set up an Artificial Intelligence, Emerging & Foundational Technologies (AIEFT) Innovation Hub at Karjat.
“The focus is to enable inventors and entrepreneurs to convert their dreams from ideation to creation. It will be ‘The Place’ to learn, prototype, build & create,” the statement said.
The new JV between Universal Business School Mumbai and Vitti Foundation, a non-profit umbrella research organization for Artificial Intelligence & Robotics Research & Development in India is good news for MBA aspirants.
Under the JV, an AIEFT Innovation Hub of 5000 square feet is being set up on the Karjat campus to enable student learning. Students will also receive hands-on experience with the new technologies enabling them to embrace future-ready professions.
“Universal Business School will also introduce new courses such as Machine Learning, Business Analytics, and Deep Learning using Python, R, Blockchain Technologies, Quantum Computing, IoT infrastructure & implementation, Extended Reality & Unity, etc,” the statement further added.
Vitti Foundation will share expertise on intelligent, new-age technologies, such as Quantum Computing, Robotics, Data Analytics, Blockchain, Neuromorphic Computing, Mixed Reality (AR/VR), and IoT; these are the sectors that will experience the greatest growth through to 2025. It is predicted that $1.21T revenue will be driven by AIEFT in the next three years and there will be 30 million IoT devices in the world by 2023.
Speaking about the JV, Kundana K. Lal, Founder & President of Vitti Research Foundation, who will serve as the CEO of the new company, says “the establishment of this fintech, retail & sustainability-focused innovation hub will augment industry to leverage technology for the business in an accelerated manner. It will also lower the entry barrier of IR 4.0 technologies such as artificial intelligence, AR/VR, blockchain, etc; enhancing digital transformation”.
Commenting on the partnership, Tarun Anand, Founder & Chairman of Universal Business School said, “I am truly excited for us to be able to provide the latest technologies for our students to embrace the power of AI & EFT. These technologies will transform industries, make us more productive, and help solve some of the biggest challenges of society. This intelligent technology is already improving our lives today and will change the world tomorrow in ways unimaginable to us now.”