Prime Minister discusses economic effects of using artificial intelligence

The gains from using artificial intelligence (AI) in the economy and public administration in Russia totaled about 1 tln rubles, and are expected to exceed 10 tln by 2030, Prime Minister Mikhail Mishustin told a plenary session at the Digital Almaty 2024 international digital forum in Kazakhstan.

Photo: Russian Prime Minister Mikhail Mishustin addresses the plenary session of Digital Almaty 2024: Industry X, Atakent business cooperation center in Almaty. Dmitry Astakhov / RIA Novosti

“As for digital solutions, we continue introducing them in all spheres, including those based on artificial intelligence. We discussed this in detail at the exhibition earlier today. Over the last two years, the use of AI in Russia’s economic sectors and state administration has increased by 50 percent (we measure this). The economic effect has amounted to over 1 tln rubles ($11 bln) and is set to exceed 10 tln rubles by the end of this decade, something that will add almost 6% to the GDP figures,” Mishustin said addressing the forum.

He added that AI can be used in critical sectors, but it is essential to use solutions that are consistent with our national interests.

AI can have a noticeable impact on the Russian economy, making significant changes in various industries, says Sergei Lipov, CIO at EdgeCenter.

AI can certainly boost productivity through automating many tasks that previously required considerable employee time and effort, the expert explained to Invest Foresight. In industry, AI can monitor and manage processes that previously required constant attention from operators, freeing workers to switch to more complex and creative tasks. Furthermore, AI can analyze large amounts of data and generate solutions faster than a human, which also increases overall productivity.

The second benefit is process optimization: AI can analyze large amounts of data and identify patterns that may go unnoticed by humans.

“For example, in logistics, AI can help optimize delivery routes based on various factors such as traffic, weather conditions and seasons, in order to reduce delivery times and costs and to increase profitability,” Sergei Lipov explains. “Similarly, AI can optimize processes in industrial production, cutting waste and increasing quality.”

Third, new industries develop: implementation of AI can stimulate the development of new industries. For example, AI plays a big role in robotics, especially in the development of robot assistants, robots for hazardous tasks, and surgical and diagnostics robots in medicine. In biotechnology, AI is used to analyze genetic data and develop new medication. AI also helps detect and prevent attacks in cybersecurity.

“All these new industries create new jobs and contribute to GDP growth,” the expert concludes.

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