Sberbank makes considerable investment in AI


Sberbank CEO Herman Gref was received by the Russian President to discuss Sberbank’s performance in 2019, presidential web page reported.

According to Gref, Sberbank “will pay RUR 502 bln ($7.5 bln) to the federal budget, which includes the taxes and dividends. Sberbank is the biggest taxpayer contributing to the budgets at all levels, primarily to regional budgets, after the major natural resources companies. In the overwhelming majority of regions, it pays more taxes than anyone else does; it is the biggest taxpayer in perhaps 60% of the regions.”

The bank also pays special attention to advanced technologies and supports schools and universities. It contributes a lot to research in AI, seeing that “artificial intelligence systems have an enormous potential in practically every area: it means higher labor productivity, more transparent and quicker services, including government services.” Sberbank therefore makes “considerable investment in it”, he concluded.

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