Bank of Punjab & office of AI signed an MOU

LAHORE: Under the Digital Punjab vision of Chief Minister Punjab Maryam Nawaz Sharif, new avenues of development are being paved through technology and Artificial Intelligence (AI).

In this regard, an important Memorandum of Understanding (MoU) has been signed between the Bank of Punjab and the Office of AI, marking a significant step towards promoting the digital economy in the province.

This collaboration has been realized under the leadership of Advisor to the Chief Minister Punjab on Artificial Intelligence, Ali Dar, reflecting a strong commitment to advancing Punjab in the field of modern technology.

According to Ali Dar, this agreement will open a new chapter in the practical application of Artificial Intelligence in Punjab and accelerate the province’s digital growth.

He stated that under this initiative, a Punjab AI Data Center and a Financial Data Warehouse will be established at Nawaz Sharif IT City, providing a strong foundation for a robust data infrastructure in the province.

He further added that a target has been set to make Punjab the largest AI-enabled province in South Asia by 2029, while positioning it as an active AI hub in the region through a modern data ecosystem.

Ali Dar further highlighted that under this partnership, innovative credit solutions will be introduced for farmers, small businesses, and the housing sector, while access to financial services for the general public will be made easier through AI.

This initiative is fully aligned with the vision of Chief Minister Punjab Maryam Nawaz Sharif to transform the province into a fully digital and AI-powered region through comprehensive measures.

Advisor to the Chief Minister Punjab, Ali Dar, also emphasized that this initiative will contribute positively towards the target of creating over 100,000 jobs and will open new doors of technology and employment opportunities for the youth.

Furthermore, collaboration with startups, universities, and global AI companies will be promoted to enhance innovation and research opportunities.

According to Ali Dar, this initiative will significantly improve access to credit for SMEs, the agriculture sector, and underserved communities, while strengthening the economy and empowering citizens through the effective use of AI.

This partnership is expected to serve as a major milestone in positioning Punjab prominently in the digital era and achieving sustainable development goals through modern technology.