Using AI in Russian economy to add at least 1% to GDP in 2025 — Sber

Business & Economy August 17, 2022, 21:11

Alexander Vedyakhin said that the financial impact of artificial intelligence in Sberbank in 2021 was $3.4 bln

MOSCOW, August 17. /TASS/. Introducing artificial intelligence technologies in key sectors of the Russian economy can add at least 1% to the country's GDP growth in 2025, First Deputy Chairman of the Board of Sberbank Alexander Vedyakhin said on Wednesday.

"Our preliminary estimates, which have yet to be evaluated and proven on specific cases, show that the use of artificial intelligence has the biggest impact in construction, agriculture, manufacturing, and healthcare. Given the share of these businesses in the economy, artificial intelligence will contribute at least 1% to GDP as early as 2025. However, I believe the impact will be considerably bigger," the press service of Sber quoted Vedyakhin.

Using artificial intelligence in critical sectors of the economy, he believes, leads to a 5-7 fold increase in measures such as speed, quality, personalization, and economic efficiency. He also stated that the financial impact of artificial intelligence in Sberbank in 2021 was 205 bln rubles ($3.4 bln), with a target of 230-250 bln rubles ($3.8-4.2 bln) for this year.

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