Sberbank, Russia's largest bank, has announced the development of its own artificial intelligence model GigaChat, featuring advanced analytical and problem-solving capabilities.
Unique Features of GigaChat
GigaChat is currently in beta testing and is set to be presented to the public soon. According to First Deputy CEO Alexander Vedyakhin, the model's differentiating factor is its ability to solve complex scientific and mathematical problems as well as write code, specifically tailored for the Russian-speaking audience.
Strategic Collaboration with China
Sberbank plans to engage in joint AI research projects with Chinese scientists, reflecting a strategic partnership in technology. Vedyakhin noted that over 15,000 Russian companies are already showing interest in GigaChat. The collaborative efforts will focus on integrating new technologies into practice.
Expansion into Cryptocurrency Sector
Alongside AI developments, Sberbank is also active in the cryptocurrency market, having launched structured bonds linked to the price of Bitcoin and the USD/RUB exchange rate. These bonds are available to qualified investors on the Moscow Exchange, and the bank plans to introduce more crypto-based products in line with the Central Bank of Russia's stance on legalization of crypto assets for accredited investors.
Sberbank's initiatives in AI and cryptocurrency reflect its ambition to take leading positions in a rapidly changing technological and financial landscape, potentially leading to significant shifts in Russia's corporate sector.
