Which Indian institute collaborated with the National Financial Reporting Authority (NFRA) for a hackathon on Large Language Models and Generative AI in April 2025?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2: IIT Kanpur.
Explanation:
- In April 2025, IIT Kanpur collaborated with the National Financial Reporting Authority (NFRA) to organize a national hackathon focused on Generative AI and Large Language Models (LLMs).
- Objective of the Collaboration: The primary goal of this partnership is to foster technological innovation in the fields of financial reporting and auditing. This hackathon encourages AI experts to develop solutions capable of analyzing complex financial data, identifying anomalies, and improving audit quality.
- Role of NFRA: The National Financial Reporting Authority (NFRA) is an independent regulatory body in India, established under the Companies Act, 2013. It is responsible for the oversight and enforcement of auditing standards.
- Application of AI: The hackathon focused on how LLMs (such as GPT- or Claude-based models) can be utilized to automate and enhance the accuracy of financial statement reviews.
Key Institutions and AI Terminology (Quick Revision):
- NFRA Headquarters: New Delhi.
- Full form of LLM: Large Language Model.
- NFRA's Nodal Ministry: Ministry of Corporate Affairs.
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