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Russia's Sberbank learns from China's AI dev. experience: top bank executive

December 24, 2024


Abstract : Russia's Sberbank learns China's experience in the development of artificial intelligence(AI), Alexander Vedyakhin, first deputy chairman of the executive board of Sberbank, told Xinhua during an interview.

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Photo shows Alexander Vedyakhin, first deputy chairman of the executive board of Sberbank, in an interview with Xinhua in Moscow. (Xinhua/Bao Nuomin)

MOSCOW, Dec. 23 (Xinhua) -- Russia's Sberbank learns China's experience in the development of artificial intelligence(AI), Alexander Vedyakhin, first deputy chairman of the executive board of Sberbank, told Xinhua during an interview.

"Sberbank is actively developing generative AI. We are, of course, watching how China is developing AI and are inspired in many ways by the models and examples it shows. We regularly attend major exhibitions in China, visit Chinese companies and major universities. We are certainly impressed by the progress China has made in AI development and implementation," he said.

As the bank's top manager noted, China's AI development demonstrates a hybrid approach that combines strong self-regulation and precise regulatory control. This allows the industry to grow fast. 

Vedyakhin said that Sberbank has already implemented more than 2,000 AI models. Sberbank's top manager believes that today there is not a single branch of the economy or any other sphere of life where AI could not bring additional benefits. AI is used in solving managerial, social, and environmental tasks. 

"We have released a large compendium on the implementation of AI in sectors of the economy and we see that these innovations affect 80 percent of sustainable development goals. And that means AI will help us have cleaner air, increase incomes, provide affordable education -- all those goals that we share together," he explained.

What's happening now in AI is just the beginning, he said. He predicts that in the next two or three years joint teams will appear, in which real people will interact with AI-assistants. Vedyakhin cited data according to which AI reduces the human workload by 20-30 percent. 

Speaking about promising directions of AI development, Vedyakhin named the introduction of recommendation systems and robotics. According to his assessment, China is showing great progress in these areas. It is no coincidence that Chinese fiction is recommended for reading to Sberbank's top management. "We believe that in the field of science fiction and such ability to look into the future, China has really very cool works now. That's why top management has been advised to read books by Chinese sci-fi writers, such as Liu Cixin," he added. 

(Contributed by Bao Nuomin, edited by Yang Linlin with Xinhua Silk Road, linlinyanglyn@163.com)

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Keyword: AI Sberbank

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