India, July 1 -- IIT Bombay and SBI Life Insurance have entered into a Memorandum of Understanding (MoU) to establish the Bharat AI & Cyber Innovation Hub for Insurance, a joint research and innovation centre aimed at creating indigenous AI-based cybersecurity solutions for the Indian insurance industry. This partnership will ensure enhanced safety of customer information by creating technologies conceived, developed, and owned in India.

This partnership will go a long way towards achieving the vision of Atmanirbhar Bharat, as envisioned by the Government of India, and minimise reliance on foreign cybersecurity frameworks. Researchers from IIT Bombay will collaborate with SBI Life on initiatives around Artificial Intelligence, cybersecur...