Sberbank 'ordered' to collaborate with China on AI

Russian President Vladimir Putin has instructed the government and the country’s largest bank, Sberbank, to collaborate with China on artificial intelligence (AI), according to a Reuters report.

Putin's directive, published on the Kremlin's website, aims to enhance cooperation with China in technological research and development within the AI industry. This announcement comes three weeks after Putin revealed plans for Russia to team up with BRICS partners and other countries to advance AI.

Due to economic sanctions, Russia's access to essential technologies has been restricted, with many microchip producers halting exports to the country. This has severely limited Russia's AI ambitions.

Sberbank’s chief executive, German Gref, highlighted in 2023 that graphics processing units (GPUs)—the microchips crucial for AI development—were the most challenging hardware for Russia to replace.

During a speech at an AI conference in Russia last month, Putin acknowledged Sberbank's significant role in advancing AI technology.

“I would like to note that in just a year, artificial intelligence technologies have transformed entire industries beyond recognition, even the so-called creative industries, where the human sense of harmony and beauty had seemed absolutely irreplaceable,” he said. “To be honest, I thought this was impossible, but these boundaries are being erased now.”

By partnering with non-Western countries, Russia aims to challenge the dominance of the United States in one of the most promising and crucial technologies of the 21st century. Putin announced on December 11 that a new AI Alliance Network would bring together specialists from BRICS countries and other interested states.

Russia currently ranks 31st out of 83 countries in AI implementation, innovation, and investment, according to the UK-based Tortoise Media's Global AI Index. This places Russia behind the US, China, India, and Brazil.



Share Story:

Recent Stories


Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.

Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.