Artificial Intelligence cross-industry applications needed in Russia
Russia is preparing for the rapid development of Artificial Intelligence (AI). In October 2019, the Russian President approved the national ”Strategy for the Development of Artificial Intelligence for the period until 2030”. The strategy is devoted to the development of technologies and ethical standards for the interaction of man and AI. Specific targets and a list of measures to achieve this will be determined by the federal project ”Digital Economy”.
Russia has the potential to become an international leader in AI due to the high level of human capital development, provision of basic infrastructure and the presence of strong IT players.
In November 2019, Russian organisations (Sberbank, Yandex, Mail.ru Group, MTS, Gazprom Neft, and the Russian Direct Investment Fund) formed an alliance for the development of AI in Russia. The alliance will develop common principles for the use of AI, propose innovative solutions and cooperate in the field of education. The Alliance will also co-operate internationally.
The market for AI in Russia is estimated to be 140 USD in 2019. Investment in AI is expected to grow by 30% per annum.
Approximately 30% of large Russian businesses are conducting AI projects. 70% of these companies expect to implement AI technologies in the next two years.
AI technologies are in demand in data processing, automation of support services and digital assistants for employees. A priority is the development of solutions that recognize, extract, classify and analyze data from various documents and sources.
Companies associate the benefits of AI as increasing employee productivity, increasing the efficiency of key business processes and reducing costs. For example, by the end of 2020, Sberbank will entrust AI to make all decisions on granting loans. Currently, AI is already deployed by Sberbank to issue 100% of credit cards, >90% of consumer loans and >50% of mortgage loans. AI has reduced decision making from 2-3 weeks to 7 minutes.
The Russian market of artificial intelligence is entering a phase of mature development. Companies are moving from testing/piloting towards real-life applications. AI development is driven by projects in finance, retail and telecommunications.
The main barriers in Russia for successful AI development are the high cost of solutions, lack of specialists and necessary skills, lack of solution providers.
The following AI applications are needed in Russia:
- Automated preventative maintenance
- Supply and logistics
- Automated threat analysis and prevention systems
- Digital assistants for information workers
- Natural Language Processing (NLP)
- Monitoring and management of quality control
- Virtual digital modeling
- Smart networks
- Robotic Process Automation (RPA)
- Regulatory compliance
- Analysis and investigation of fraud
- Public safety and emergency response
- Adaptive learning
Wholesale and retail
- Trading Advisers and Product Recommendations
- Automation of sales process and recommendations
- Automation of process of interaction with customers and recommendations
- Automated customer support
Agriculture, mining, transport and logistics
- Asset management
- Cargo management
For more information, please contact:
Senior Advisor, ICT
+7 903 245 8165
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