Deriv.com and BITS Pilani Dubai Campus have formalized their collaboration through a newly signed memorandum of understanding (MoU) aimed at enhancing artificial intelligence (AI) initiatives and talent development. This partnership marks a significant shift from a focus on graduate recruitment to a broader engagement that includes curriculum development, research, and real-world projects, reflecting the growing demand for AI skills in the UAE’s digital economy.
Over the years, BITS Pilani Dubai Campus has become a vital source of technology talent for Deriv, with the fintech company hiring approximately 65 graduates for various technical roles. The evolving landscape of AI and machine learning is reshaping the skills required by Deriv, prompting a need for closer collaboration between industry and academia. The MoU is expected to facilitate joint projects, research initiatives, and the establishment of AI-focused facilities at the campus.
Expanding the Scope of Collaboration
In an interview with TahawulTech, Rakshit Choudhary, CEO of Deriv, emphasized the importance of AI in shaping the future of fintech. He noted that the company has invested significantly in AI research and talent acquisition, aiming to automate processes while enhancing employee capabilities. “Our internal motto is ‘automate everything,’ but automation does not reduce the importance of people,” Choudhary stated.
As customer expectations evolve, Deriv is leveraging AI to provide more interactive and relevant support. Choudhary highlighted the need for technology to simplify complex trading processes, ensuring customers have access to clear information and analytics. This focus on customer-centric innovation aligns with the UAE’s ambition to foster a robust digital economy.
Preparing Students for Future Careers
Abdul Razzak, Manager of Career Services at BITS Pilani Dubai Campus, discussed how the institution is adapting its educational approach to meet the demands of the digital economy. The campus is shifting from digital adoption to digital innovation, equipping students with the skills needed to tackle real-world challenges. Initiatives like an AI-enabled career platform, developed by students, exemplify this commitment to practical learning.
Razzak noted that the partnership with Deriv extends beyond recruitment, aiming to build a stronger talent pipeline through curriculum development and mentorship. The introduction of new academic programs in AI, cybersecurity, and robotics reflects this strategy, with a focus on hands-on, industry-relevant learning. “Our aim is to develop digitally confident professionals who can contribute meaningfully to the UAE’s AI and digital transformation ambitions,” he said.
Industry-Academia Synergy
The collaboration between Deriv and BITS Pilani Dubai Campus underscores a broader trend in the UAE, where universities and technology companies are increasingly working together to align educational outcomes with industry needs. By fostering partnerships that emphasize practical experience and emerging technologies, both organizations aim to prepare students for the rapidly changing job market.
As the UAE continues to position itself as a leader in digital innovation, initiatives like this MoU are crucial for developing a skilled workforce capable of driving the country’s ambitions in AI and beyond. The partnership not only enhances the educational experience for students but also ensures that companies like Deriv have access to a pipeline of talent equipped to meet future challenges.
