RDIF and Russian Government agree AI development

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) and the Russian Government have agreed to jointly develop the high-tech artificial intelligence sector, as part of the agreement signed by CEO of RDIF Kirill Dmitriev and Deputy Prime Minister Maxim Akimov at the Eastern Economic Forum.

Under the terms of the agreement, RDIF will invest in Russian companies that create IT infrastructure and develop the AI sector, including supporting advances in cloud technology, data storage and processing centers. A key aim of the agreement is to attract the investments and expertise of international partners as well as to bring Russian AI companies to the global market.

RDIF will also become a platform for cultivating partnerships between Russian and international companies. This will include the creation of a center for the development of AI, in cooperation with Lomonosov Moscow State University which will draw upon the participation of leading international scientific research centers.

“RDIF joins forces with the Russian Government to promote the development of one of the most promising sectors in our economy. The ability to attract international investment and expertise will stimulate the development of leading Russian AI-companies, and we will be able to establish a compelling case for bringing their various products and services to the world’s market. Integrated solutions built upon the partnership of fundamental science and advanced applied technologies will enable Russia to establish a leadership in the field of AI,” Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said.

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