Russia’s biggest bank, Sberbank, is taking on OpenAI’s overwhelmingly successful ChatGPT. They are launching their own version, GigaChat, which is currently in an invitation-only testing phase. It is touted as a rival to ChatGPT, which is not available in Russia. What sets GigaChat apart is its ability to communicate intelligently in Russian, a language many Russians are most comfortable speaking.
Sberbank is yet to reveal more details about GigaChat. It is currently not clear what it is capable of and whether it is a like-for-like replacement for ChatGPT or a less advanced version. The Russian government’s efforts to increase technological independence, due to ongoing Western sanctions, have driven the initiative to launch GigaChat.
Sberbank is the largest commercial bank in Russia. Founded in 1841, it is the second largest bank in Europe. It is a state-owned bank that provides both retail and corporate banking services. It also has subsidiaries across many other countries, such as Kazakhstan, China, Turkey, and the United States. Sberbank also operates a venture capital fund and is a major fintech innovator.
Vladimir Putin, the President of Russia, has played a key role in driving GigaChat. He has instructed government officials to make changes to Russia’s national and state programs to make the introduction of AI technologies and applications it easier in all sectors. His directives have been instrumental in driving the development of GigaChat.
