The Punjab government’s office of Artificial Intelligence and the Bank of Punjab on Thursday signed a Memorandum of Understanding (MoU) to jointly develop digital infrastructure aimed at accelerating the province’s artificial intelligence and digital economy agenda.
Under the agreement, a Punjab AI Data Center and a Financial Data Warehouse will be established at Nawaz Sharif IT City, forming the core infrastructure for data-driven governance and AI-enabled financial services in the province.
The initiative is being implemented under the leadership of Advisor to the Chief Minister Punjab on AI Ali Dar, who said the collaboration is intended to advance practical applications of artificial intelligence across public and financial systems.
Officials said the project is part of a broader strategy to position Punjab as the largest AI-enabled province in South Asia by 2029, with ambitions to develop a regional AI hub supported by a unified digital ecosystem.
As part of the framework, AI-based financial tools will be introduced to improve access to credit for farmers, small businesses, the housing sector, and underserved communities. The system is expected to streamline lending processes and expand financial inclusion through data-driven decision-making.
The partnership also includes plans to collaborate with startups, universities, and global technology firms to support research, innovation, and the development of AI applications in key economic sectors.
Authorities said the initiative aligns with the vision of Chief Minister Punjab Maryam Nawaz Sharif to transform the province into a fully digital and AI-integrated governance model.
Officials further stated that the programme is expected to contribute to the creation of more than 100,000 jobs, particularly in the technology and digital services sectors, while expanding employment opportunities for youth.
They added that the development of a robust data ecosystem will enhance credit access for SMEs and the agriculture sector and strengthen overall economic efficiency through AI-enabled financial systems.
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