ST. PETERSBURG, July 27. /TASS/. Sber supports the intentions of the Republic of South Africa to establish an artificial intelligence institute and plans to sign a memorandum of cooperation in developing artificial intelligence technologies, First Deputy Chairman of the Board of Sberbank Alexander Vedyakhin said during a session at the Russia-Africa summit.

"We will propose signing a memorandum of cooperation in terms of artificial intelligence development, in which Sber will actively assist the Republic of South Africa. Of course, artificial intelligence is about more than just the economy, it is also about social issues, agriculture, and other things. As a result, the path is clear, we will continue to work on an agreement and in the future, the Republic of South Africa can be such a center of competence for the entire continent in the development of artificial intelligence, and we will be delighted to help," he said.

The second Russia-Africa Summit is taking place at St. Petersburg’s Expoforum on July 27-28, in parallel with economic and humanitarian forums. Similar to the first such summit in 2019, the event is being held under the rubric "For Peace, Security and Development." The event is being organized by the Roscongress Foundation. TASS is the event’s official information partner and photo-hosting agency.