Sberbank announced that it is ready to share artificial intelligence technologies with its Middle Eastern partners

No time to read?
Get a summary

The UAE market is one of the priorities for Russia and Sber. The company is ready to share its artificial intelligence technologies with its Middle Eastern partners. First Deputy Chairman of the Board of Directors of Sberbank Alexander Vedyakhin stated this in an interview with the Arab TV channel Asharq News.

According to the company’s top manager, Sber monitors the actions of its customers, actively works with them and tries to help develop in markets that are priority for Russian business. “And now the UAE market is one of the priorities of Russian businessmen. We are happy to share our technologies with our Arab partners,” said Alexander Vedyakhin.

Speaking about the results of Sber’s work, the first vice chairman of the company’s board of directors said that Sber achieved record profits of 1.5 trillion rubles in 2023, equivalent to 16 billion 400 million dollars.

“This is pure profit and despite all the restrictions we have at the moment it is an absolute record. We adopted our new strategy last year, promising our shareholders a 22% return on capital and a 50% dividend payment. “Sber is number one in terms of shares on the Moscow Stock Exchange, we are considered the most profitable investment in the Russian Federation of this millennium,” added Vedyakhin.

He pointed out that the company has been the best in the Russian market in terms of performance since 2000. “Therefore, we look to the future with optimism and promise our shareholders more profits and our customers stable, high-quality service,” emphasized Sber’s senior manager.

Vedyakhin also noted that today there is not a single sector of the economy that cannot rely on artificial intelligence.

“In construction, agriculture, medicine, everywhere, artificial intelligence increases productivity by 5-7 times. Profit increases 2-3 times. Russia’s GDP from AI will grow by 1% in the next few years. This is a lot for Russia as well as other countries. That’s why we develop artificial intelligence ourselves and help our customers develop it,” said Vedyakhin.

According to him, Sber is a center of competence in the field of artificial intelligence that actively shares this knowledge.

“Today there are two companies developing neural network models in Russia: Yandex and Sber. Sber’s model is called GigaChat. Our GigaChat has now surpassed ChatGPT 3.5 in official measurements. “I think we will catch up with ChatGPT 4 in the near future,” said the studio guest.

Vedyakhin called the development of generative artificial intelligence one of the most important areas of the company’s work.

Sber cited the Kandinsky neural network as an example.

“The Kandinsky neural network draws, understands and renders videos well, meaning its features are comparable to leading solutions in this direction, such as Midjourney,” Vedyakhin said.

No time to read?
Get a summary
Previous Article

Nubia showed off an almost kilogram smartphone charger with an unusual design

Next Article

At the call of agricultural organizations, tractors want to destroy Madrid again on Monday