The top online payments organisation PayPal launches first Innovative labs in Chennai and Bengaluru technology centres. This is the first time in India to launch Innovative Labs. PayPal is the leading firm in providing financial services like transferring money via online, putting an end to traditional paper methods like cheques and money orders.
The company announced the launch of its new technology Innovative Labs which are first in India. Globally, India ranks third after the United States and Singapore in starting Innovative labs. The Innovative labs are fast, flexible and are very creative. They support a large variety of activities and different types of work ranging from individual to large group members of the organization.
Mike Todasco Director of innovation said. To cater the needs of the innovators in India in the most efficient way, we are very happy to announce the launch of our newest innovation lab in India.
Innovative labs are the work space designed to enhance innovation. These labs will support innovation in various fields including Machine learning, Artificial Intelligence, Data Science, Basic Robotics, Wireless communication among others. They create a unique environment for creating and sharing information. It provides technology which enhances Conversations and decision making.
Guru Bhat, technology head of engineering at PayPal India stated, “With over one lakh forty-five thousand registered patents between 2013-16 to its credit, India’s innovation potential is enormous and will certainly break benchmarks with the right kind of encouragement,”
The main focus will be on three core areas; Innovation, Productivity, and Education which helps to develop new technologies and create a convention for employees to engage. Innovative Labs also helps employees to think across many themes. Some of the ongoing PayPal’s initiative PayPal Incubator which is launched in 2013 will be integrated with these Innovation Labs.
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