INTERVIEW: Russian AI firms to create alliance – Sberbank

MOSCOW, Nov 7 (PRIME) -- Russian companies developing artificial intelligence (AI) are forming an alliance or a consortium, Alexander Vedyakhin, first deputy chairman at Sberbank, the country’s biggest bank, told PRIME in an interview on Thursday.

Sberbank signed in July an agreement of intent to develop AI with the government to make the country one of the leaders of this technology. The bank plans to involve Internet companies Yandex and Mail.ru Group as well as oil major Gazprom Neft into the work.

“Now a great deal of companies and individuals focus on AI. According to the agreement, an alliance or a consortium of the main companies to develop AI will be created,” Vedyakhin said.

Work on a federal draft is in progress, and the document must be submitted to President Vladimir Putin by December 15.

“It’s a huge task, which took many countries several years, while it took us slightly more than six months. We are cooperating with the government and the goal is very ambitious, we do our the best to meet the deadline,” the executive said.

Sberbank also implements AI technologies in various medical services, including insurance products.

“Now these services are at the stage of elaboration and testing, but next year our firm Sberbank Life Insurance will be able to offer them to the clients,” Vedyakhin said.

Such solutions will make it possible to monitor health of a person dynamically, and give healthcare recommendations.

The bank said earlier that AI contributes 30–40% to its revenue, and the share will rise to 50–70% soon.

Sberbank is the federal center of competence on AI and is responsible for its progress. The bank also has an AI laboratory.

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