PM Modi US Visit: On Friday, Prime Minister Narendra Modi met with Google CEO Sundar Pichai in Washington. The Indian-origin CEO of Google has announced opening of Google Fintech center in Gujarat. “It was an honour to meet PM Modi during the historic visit to the US. We shared with the prime minister that Google is investing $10 billion in India’s digitisation fund. We are announcing the opening of our global fintech operation centre in GIFT City, Gujarat.” Pichai after meeting PM Modi as quoted by ANI.
What is FinTech?
Fintech is a combination of the terms ‘financial’ and ‘technology’ and it is used to refer to businesses that employ use of technology to enhance financial services.
The Fintech technology utilizes advanced technologies like machine learning algorithms, blockchain and data science to asses financial risks and plan accordingly. With growth of FinTech concerns around cybersecurity has also increased as company data can become vulnerable to unethical hackers and technicians. The Google Fintech center announced for India will be one its kind in the country.
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Pichai praises PM Modi’s vision
Praising Modi’s vision of Digital India, the Google and Aplphabet CEO said “The PM’s vision for Digital India was way ahead of his time and I now see it as a blueprint that other countries are looking to do.” Recounting his meeting with PM Modi last December Pichai said ” “I met the prime minister in December, and we continued our conversation. We shared that Google is investing $10 billion in the India digitisation fund, and we are continuing to invest through that, including in companies working on artificial intelligence. As part of that, we have a 100-language initiative. We are bringing bot to more Indian languages very soon.”
PM Modi also met with Amazon CEO Andrew Jassy and Boeing CEO David L. Calhoun in Washington.
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