Bank of Baroda has initiated a nationwide online hackathon focused on Generative Artificial Intelligence (GenAI), in collaboration with Microsoft. This event invites participants to develop solutions using GenAI technology to address specific business areas defined by the bank. The top three teams will be awarded cash prizes of Rs 5 lakh, Rs 3 lakh, and Rs 2 lakh each, with the best ideas potentially being implemented by the bank.
Key Highlights:
- Nationwide hackathon for developers, students, professionals, startups, and fintechs.
- Focus on developing solutions in customer service, financial advisory, audit & compliance, risk management, operational efficiency, and personalized content generation.
- Top three winners will receive Rs 5 lakh, Rs 3 lakh, and Rs 2 lakh respectively.
Hackathon Details
Open to individuals and teams, including developers, students, professionals, startups, and fintechs, the hackathon will run for two months. Participants will focus on ideation and prototype development, targeting solutions in six key areas:
- Customer Service
- Financial Advisory
- Audit & Compliance
- Risk Management
- Operational Efficiency
- Personalized Content Generation
Shri Sanjay Mudaliar, Executive Director of Bank of Baroda, emphasized the bank’s commitment to innovation in the banking sector. “Artificial Intelligence, particularly Generative AI, has significant potential to improve banking operations and customer experiences. Collaborating with innovators can help create solutions that will benefit the banking landscape.”
Mr. Puneet Chandok, President of Microsoft India and South Asia, echoed this sentiment, highlighting the partnership’s goal to foster technological advancements in the banking sector using Azure OpenAI’s capabilities.
Participation and Registration
Contestants can participate by visiting bobhackathon.com. Teams of up to four people can register and submit their ideas between June 10 and June 30, 2024. Shortlisted teams will develop prototypes, with support from Microsoft and Bank of Baroda through Azure credits, technical resources, and mentoring sessions.
