Leading Russian Companies Join Forces To Develop Artificial Intelligence

Sputnik, 09.11.2019

MOSCOW (Sputnik - 09th November, 2019) Leading Russian companies from various fields have formed an alliance to jointly develop artificial intelligence (AI) under the auspices of Russian President Vladimir Putin.

Earlier on Friday, Sberbank CEO announced at the beginning of the Artificial Intelligence Journey Conference in Moscow that Yandex, Mail.ru, Gazprom Neft, the Russian Direct Investment Fund (RDIF), MTS mobile network operator and Sberbank will be part of the alliance.

The Ministry of Economic Development will supervise this project, which will be implemented in the form of public and private partnership. Deputy Prime Minister Maxim Akimov will be the partner of this alliance representing the government.

In 2018, the volume of Russia's AI market amounted to $3.1 billion and by 2024 it could reach $14.2 billion. According to a recent analysis by microsoft Corporation, Russia is ahead of the West in implementing AI technologies.