IT firm Mindtree has partnered with the Indian Institute of Technology, Madras to set up a faculty fellow position in Data Science and Artificial Intelligence.

This endowment will empower the renowned academic institution with industry-specific knowledge and resources to help create solutions to accelerate the growth and adoption of Data Science and AI globally, the company said in a statement.

Through this endowment, Mindtree will help accelerate the development of technology innovation in fields like AI, data analytics, and machine learning, it added.

"AI and Data Science are key priorities for our clients as these technologies offer immense potential to create new business opportunities. IIT Madras is one of the global leaders in this field and the collaboration between Mindtree and IIT Madras will help accelerate innovation and push the boundaries of knowledge," the company's CEO and Managing Director Rostow Ravanan said.

Mindtree will further extend the partnership with IIT Madras to include research projects focusing on related topics such as personalisation, conversational interfaces, and natural language generation, the statement said.

"Considering the speed with which technology is evolving, such partnerships are vital for the business ecosphere. AI, Data Sciences, and Machine Learning are new territory for a majority of organisations, and a deep association with Mindtree will give our students and teachers valuable exposure to the industry's needs," IIT-Madras Director Bhaskar Ramamurthi said.