Kerala CM inaugurates IBS Software's new company Naviq Technology

Kochi / July 23, 2026

Kochi, July 23: Kerala will be transformed into a national hub for artificial intelligence and emerging technologies, Kerala Chief Minister V.D. Satheesan said while inaugurating Naviq Technology launched by the IBS Software Group to drive innovation in the global travel industry.

Naviq Technology is located at the IBS Tower in Infopark Phase I, Kochi.

Shri Satheesan said the world is witnessing an unprecedented explosion of knowledge, with artificial intelligence rapidly becoming an indispensable tool across sectors. The Chief Minister's Office has already begun using an AI-powered dashboard to monitor the progress of investment projects in the state, he pointed out.

Citing global expert projections, he said artificial intelligence will reach levels comparable to human intelligence in several domains by the end of this decade. To understand and adapt to these rapid technological changes, the state government has established a Global Job Watch Tower. Based on recommendations associated with the initiative, educational curricula and syllabi will be revised to align with emerging industry requirements and future skills.

Presiding over the function, Minister for Industries and IT P.K. Kunhalikutty said society and governments must evolve in step with technological advancements. Noting that technology is undergoing constant transformation, he stressed the need to harness opportunities emerging from the AI sector.

As art of this vision, the State IT Mission is being transformed into the Future Technology Mission, which will help drive integrated development across multiple sectors, he said.

IT Secretary Seeram Sambasiva Rao said the adoption of AI is essential at both institutional and individual levels. The Electronics Incubator under IIITM-K is being transformed into SemiCon Kerala as part of the state's efforts to establish a presence in the semiconductor sector. He added that the government would also prioritise skill development initiatives.

Shri V.K. Mathews, Founder and Executive Chairman of IBS Software, described the launch of Naviq Technology as a milestone in the next phase of growth for the IT industry. He noted that artificial intelligence is set to become the driving force of the digital economy, which accounts for nearly 25 per cent of global economic output.

He pointed out that global technology spending currently stands at US$6.35 trillion, with approximately 30 per cent attributable to IT services. India contributes around 20 per cent to this segment. Revenue generated from AI-related technologies is growing at nearly 50 per cent, presenting significant opportunities for innovation and growth.

At the same time, Shri Mathews cautioned that AI-driven job displacement could affect nearly 45 per cent of existing roles. He emphasised that learning and adapting to AI technologies remains the most effective way to stay relevant in the evolving job market. Those unwilling to embrace new technologies may find it increasingly difficult to remain competitive in the IT industry, he added.

Others who addressed the gathering included Somit Goyal, CEO of IBS Software; Moizzur Rahman, President of Naviq Technology; and Harjot Dhaliwal, Head of India at Apax Partners.

Naviq Technology has been established to modernise the travel industry's capabilities developed by IBS Software over the past two-and-a-half decades by leveraging AI. The company operates independently from IBS Software's other subsidiaries.

Naviq Technology will collaborate with leading international airlines, airports, cruise lines, vacation providers and hospitality groups to accelerate AI adoption for business transformation, modernisation initiatives and the creation of new revenue streams.

The company has already established more than 16 offices worldwide and has been designed to attract the next generation of travel technology professionals.

Naviq Technology will create opportunities for AI researchers, data scientists and other technology specialists to contribute to the future of the global travel ecosystem.

ENDS
 

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