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 In a bid to enable widespread adoption of AI in India and Europe, tech consulting and digital solutions company LTIMindtree on Wednesday signed a memorandum of understanding (MoU) with Greece-based insurance company Eurolife FFH (powered by Fairfax Digital Services).

As a part of this MoU, signed in the presence of visiting Greek Prime Minister Kyriakos Mitsotakis, Eurolife FFH will set up generative Al and digital hub in Athens to develop innovative solutions for insurance businesses in Greece and LTIMindtree, a Larsen & Toubro Group company, will provide deep domain expertise and support from its dedicated facilities in Poland and Mumbai.

Professionals from both the companies will jointly undergo specialised training in generative Al and digital transformation to develop cutting-edge products and services, the companies said in a joint statement.

"As Greece and India unite in establishing a GenAI and digital hub, our collaboration transcends borders and algorithms. This partnership exemplifies the fusion of diverse cultures and shared visions, which will shape the future landscape of artificial intelligence and digital transformation," said Sanjay Tugnait, President and CEO of Fairfax Digital Services.

The multi-million-dollar partnership will enable widespread adoption of AI and digital solutions across insurance, banking, shipping and manufacturing industries.

Alexandros Sarrigeorgiou, CEO of Eurolife FFH, said this collaboration is a step towards a future where GenAI and digital innovation will drive business success and enhance customers’ experience.

According to Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree, by merging LTIMindtree’s innovation capabilities with Eurolife FFH’s domain expertise, "we are staging a platform for an accelerated adoption of new technologies to address the industry’s most pressing challenges, while establishing new benchmarks in both domestic and international markets".