Russian lender Sberbank announced on Monday the launch of GigaChat, an AI-powered chatbot that is being positioned as a rival to the well-known ChatGPT platform released by OpenAI last year.Enabling users to communicate more effectively in Russian, GigaChat utilizes advanced neural network technology that sets it apart from other AI-based chatbots.
Sberbank has been looking to reduce Russia’s reliance on foreign imports by heavily investing in technology. This process has become especially crucial since the sanctions imposed by many Western nations on Moscow in the wake of its actions in Ukraine.
As the global technology sector seeks to bring the full potential of AI technology to more users, GigaChat is now available in an invite-only testing mode.
About Sberbank: Sberbank is the largest bank in Russia and the country’s most popular financial institution. Founded in 1841, Sberbank has grown to become a leading provider of banking and financial services across the country, offering retail and corporate banking, investment banking, credit cards, mutual funds, forex, and more.
Alexander Marrow is an experienced journalist who covers banking and finance news for Reuters. Having reported on the Sberbank release for the news outlet, Marrow was responsible for editing the story before it went out.
