Russia holds strong position in global AI race – top bank executive

Sber is applying the technology across multiple sectors, including international business, according to Alexander Vedyakhin

Russia has maintained a strong position in the global race for artificial intelligence (AI), despite facing significant challenges, according to Alexander Vedyakhin, first deputy CEO of Sber, the country’s largest bank.

Speaking to RT on Tuesday, Vedyakhin emphasized that Russia’s continued progress in AI has been made possible by world-class mathematicians, talented engineers, and the bank’s financial capacity to invest in innovation – even amid sanctions and chip shortages.

“The talent, strong motivation, and Sber’s ability to invest have allowed us to overcome a number of constraints,” he said.

While acknowledging that Russia lags behind AI frontrunners like the US and China by six to nine months on certain indicators, Vedyakhin pointed out that the country has achieved competitive results with a fraction of the investment made by competitors.

He also noted that Russia is actively collaborating with major AI players such as China, India, and several members of the Commonwealth of Independent States (CIS).

“In particular, we have very strong ties with Uzbekistan, where we not only share expertise but also implement AI-based solutions – primarily in healthcare and social services,” Vedyakhin explained.

Addressing growing concerns about AI-induced job losses, the executive compared the development of the technology to raising a child, stressing that it is humanity’s responsibility to guide it in a positive direction.

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