The economic impact of deploying artificial intelligence at Sberbank toward the end of last year reached 250 billion rubles and could climb to 350 billion rubles as the technology scales across operations. This estimate was presented by Evgeny Titov, Vice-President and Chairman of Central Russia at Sberbank, during the fourth All-Russian Forum Digital Evolution 2023 held in Kaluga.
Titov emphasized that global technology development is entering a phase of rapid acceleration, with waves of change expected to reshape industries over the coming decade.
He noted that in the next ten years blockchain, six generation 6G networks, and cloud computing will expand dramatically and influence economic activity. Artificial intelligence is advancing just as quickly, and international experts estimate that its broad adoption could generate annual global economic benefits ranging from 2.6 trillion to 4.4 trillion dollars.
According to Titov, artificial intelligence now covers about 75 percent of Sber’s processes.
He explained that lending decisions have become almost entirely digitized. The share of AI in consumer lending stands at 99.9 percent, while corporate lending sees an AI share of about 81 percent. Beyond finance, AI is embedded in smart devices, the Salyut virtual assistant, and unmanned vehicles, driving efficiency across the bank’s ecosystem.
Titov also highlighted that in 2023 Sber held roughly 30 design sessions focused on AI transformation across Russian regions. The outcomes generated a surge in requests from executive authorities to promote products based on artificial intelligence.
Looking ahead, he indicated that several additional sessions are planned. Sber maintains that applied AI solutions can boost process efficiency by a factor of five to seven.
As concrete proof of impact, Titov cited Sberbank and partner company products such as the AI telecardiograph, FAP, and the Voice2Med speech recognition system. These innovations have shown the potential to cut diagnostic errors by about 30 percent and reduce errors within medical facilities by roughly 20 percent.
In transportation, AI is delivering tangible gains by reducing time spent in traffic and at intersections by about 20 percent and by nearly 70 percent in forecasting passenger traffic. Additionally, the use of AI contributes to an 80 percent reduction in injuries on construction sites.
The forum is expected to center on advancing digital services and platforms, including the GosTech Unified Digital Platform, with Sber serving as a partner to state initiatives and offering its AI-enabled solutions on the platform.
Recent announcements also highlighted Sber’s Science Awards, which recognized 92 scientists for notable contributions to AI-related research and development.