As per reports, Invesco Ltd. (NYSE: IVZ) signed a co-innovation memorandum of understanding with International Institute of Information Technology Hyderabad (IIIT- H) recently, with the goal to drive progress in AI, ML, and predictive analytics for asset management along with exchanging ideas and gathering insights on emerging technology from across different industries.
The partnership will help students, educators, innovators, and startups in getting a better and deeper grip of knowledge and experience in the fields of Artificial Intelligence (AI), Machine Learning (ML), and Predictive Analytics.
The designed model collaborate with research teams and professors at IIIT-H along with allowing internal development and engineering teams to work closely. Further, Invesco’s technology stack will become strong enough to create fresh innovative solutions for their clients and customers using tech-tools with better effectiveness and efficiency.
Donie Lochan, Chief Technology Officer of Invesco, said after the signing, “We are pleased to continue investing in the Hyderabad community, and this partnership is a logical next step for us as we continue to grow our predictive analytics and machine learning programs at Invesco.”
“We have recently launched our own internal Innovation Hub with similar goals of industry and startup collaboration. This new co-innovation partnership helps us expand our goals by strengthening our ties to the local academia community in Hyderabad,” said Dave Dowsett, Global Head of Strategy, Innovation, and Disruptive Technology.
Swaroopa Akula, Technology Head of Station, Invesco Hyderabad, said, “IIIT-H is close to our Hyderabad office, and will provide us further opportunities to work with the Institute’s diverse talent pool of research students and professors. We’re excited for the future innovations coming from Hyderabad that will have global impact.”
“With a key founding principle of IIIT-H being applied research, lately we have been exploring new models of industry to engage with research. And the Co-Innovation is gaining a lot of traction both among tech companies and also startups. Very happy to see a global major like Invesco signing up now,” said Professor Ramesh Loganathan, Head of Research, Outreach and Co-innovation, IIIT-H.
Ravindra Rapeti from Technology Strategy & Innovation Team, Invesco Hyderabad, said, “Not only there are opportunities to build breakthrough technologies, but there are also opportunities for Invesco to provide career paths for individuals we encounter through the co-innovation process.”
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