Hyderabad: IT, Industries and Commerce Minister D. Sridhar Babu said Telangana was emerging as a global AI financial innovation hub, driven by rapid growth in artificial intelligence–based financial technology.
He said several global financial institutions had established major innovation and engineering centres in Hyderabad.
The minister made the remarks while addressing the CFO Summit organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).
According to him, artificial intelligence was transforming the role of technology within organisations.
He said technology was no longer a cost centre but a strategic engine that creates value and improves financial decision-making.
AI financial innovation hub strengthened by global institutions
Sridhar Babu said Hyderabad had developed one of the strongest ecosystems for an AI financial innovation hub.
Several global financial companies operate major technology and analytics centres in the city.
These include Vanguard, UBS, Wells Fargo, Bank of America, MassMutual, Franklin Templeton, JPMorgan Chase, Goldman Sachs and Citigroup.
The minister noted that Hyderabad currently hosts nearly 400 Global Capability Centres.
These centres employ more than three lakh professionals across different sectors.
He also said Telangana’s technology sector generates more than 40 billion dollars in IT exports.
AI financial innovation hub supported by new initiatives
Sridhar Babu said the state government was focusing on the next phase of growth to strengthen the AI financial innovation hub ecosystem.
The government has launched several major initiatives including AI City, Future City and AIKAM.
These initiatives aim to expand digital infrastructure and create a strong artificial intelligence ecosystem in the state.
They also focus on building a large talent pool to support the AI-driven economy.
The minister also highlighted the changing role of finance leaders in modern organisations.
He said Chief Financial Officers were increasingly becoming key drivers of digital transformation.
According to him, CFOs are now guiding investments in artificial intelligence, technology and data-driven capabilities.
Such initiatives, he said, would shape the future competitiveness of global enterprises.
Former Chief Vigilance Commissioner K. V. Chowdary attended the summit along with film producer and Vignana Jyothi Institute of Management president Daggubati Suresh Babu.
FICCI CFO Council Chairman Rajneesh Jain, Co-Chairman Subbaiah Kumar and Vignana Jyothi Institutions CEO and former DGP Anuradha also participated in the event.