ISLAMABAD: Askari Bank Limited (AKBL) in collaboration with National University of Sciences & Technology (NUST) inaugurated a Digital Innovation Laboratory, a first of its kind in Pakistan.

The Askari Digital Innovation Lab will comprise of a dedicated team of Data Scientists who will work on Machine Learning and Artificial Intelligence models to create new intellectual property (IP) for the bank. Housed within the space of National Science & Technology Park, this premises shall also serve as a base to attract and evaluate start-ups for potential investment by the Bank.

The inauguration ceremony was attended by Shehryar Ali Shah, Chief Digital Officer AKBL, and Dr Rizwan Riaz, Pro-Rector Research, Innovation & Commercialization, NUST. Also present at the event were Rashid Zaman Khan, Chief Information Officer AKBL, Jawad Khalid Mirza, Chief Information Security Officer AKBL, Muhammad Anwar Fareed, Director Innovation and Commercialization, NUST and other senior officials from both organizations.

We strongly believe that this project will not only create IP for further customer acquisition, retention and value-added services, but also serve as a recruitment and training ground for the next generation of Data Scientists for the bank.

Speaking at the event, Dr Rizwan Riaz stressed on the need for fostering partnerships between academia and industry which can grow to develop scalable digital products.

Copyright Business Recorder, 2022