Last year Microsoft-backed startup OpenAI released ChatGPT, a chatbot that is gaining traction in the technology sector for the sheer convenience of having AI written into more user-friendly applications. As a result, companies are racing to win business by offering the service with an eye to revolutionizing a wide array of tasks.
Russia’s leading bank, Sberbank, is no exception. On Monday, the company announced the release of GigaChat, a leading AI-based chatbot offering that allows for more intuitive communication in Russian vs. foreign neural networks. The service is invite-only for now, though that could change soon.
Sberbank is no stranger to tech investment. In recent years, the bank poured resources into reducing dependence on imported tech, resulting in this innovative piece of software. As strained diplomatic relations between the West and Russia have led to sanctions, increasing their reliance on home-grown technology has been especially important, and GigaChat may be a part of that.
The company behind the chatbot, Sberbank, is one of the largest financial institutions in Russia, having recently been positioned by Forbes as the 6th largest public company in the country. With an emphasis on developing its own technology, it stands in stark contrast with some of its international competitors.
The release of GigaChat is credited to Sergei Solonin, chief executive officer of Sberbank. Having first joined the company in 1995, Sergei navigated the company through a series of crises and sweeping changes, culminating in his appointment as CEO in 2010. He is credited with leading the bank toward the success it enjoys today, and the release of GigaChat is one more innovative step toward the goal of utilizing technology to reshape how people work.
