IT Ministry to Set up Innovation Centers for AI, Fintech, Robotics and More

The Ministry of Information Technology and Telecommunication (MoITT) will establish specialized innovation centers for FinTech, Artificial Intelligence (AI), Internet of Things (IoT) and Robotics in major cities of Pakistan.

The Ministry has chalked out a comprehensive plan to promote home grown players in IoT, FinTech, AI and Robotics.

They will encourage a highly integrated startup ecosystem through collaboration with national and international incubation centers, financial institutions, universities, relevant government departments, industry consultants and associations.

The government would establish and build a framework for setting-up incubation centers in provincial capitals & major secondary cities.

This will facilitate IT startups to get off the ground faster by tapping into a vast network of business partners and mentors.

They will include specialized innovation centers in thematic areas including FinTech, Artificial Intelligence (AI), Internet of Things (IoT) and Robotics.

It would promote and encourage entrepreneurship by providing incentives to IT sector and training for young professionals to become freelancers.

Further the Ministry would devise appropriate capacity building measures (awareness campaigns, trainings, seminars, and workshops) to promote smart technologies and increase HR talent pool.

According to the plan, adoption of IoT, FinTech, and Artificial Intelligence & Robotics will be accelerated and would enable cost-effective introduction of new technologies, including open standards efforts, targeted federal funding, and impactful public-private partnerships.

The Ministry would actively collaborate with Higher Education Commission (HEC), IT industry and other relevant institutions to modernize the education curriculum to be in sync with the emerging technologies and align to the requirements of the industry.

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