Hyderabad: Telangana IT and Industries Minister D. Sridhar Babu said the state is emerging as an AI financial innovation hub, driven by rapid growth in artificial intelligence-based financial technology. Several global financial institutions have already 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. He said artificial intelligence is transforming the role of technology in organisations, adding that technology is no longer just 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 has developed one of the strongest ecosystems for an AI financial innovation hub, with several global financial companies operating large 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.
He noted that Hyderabad currently hosts nearly 400 Global Capability Centres employing more than three lakh professionals across sectors. The minister also said Telangana’s technology sector generates over 40 billion dollars in IT exports, reflecting the strength of the state’s digital economy.
Sridhar Babu added that the government is focusing on the next phase of growth to strengthen the AI ecosystem. Initiatives such as AI City, Future City and AIKAM aim to expand digital infrastructure and build a strong artificial intelligence talent base in the state.
He also highlighted the evolving role of Chief Financial Officers in modern organisations. According to the minister, CFOs are increasingly becoming key drivers of digital transformation and guiding investments in artificial intelligence, technology and data-driven capabilities that shape the competitiveness of global enterprises.
The summit was attended by former Chief Vigilance Commissioner K. V. Chowdary and film producer Daggubati Suresh Babu, who is also president of the Vignana Jyothi Institute of Management. Rajneesh Jain, chairman of the FICCI CFO Council, and Subbaiah Kumar, co-chairman, also attended the event along with Anuradha, CEO of Vignana Jyothi Institutions.
