On Monday, Russian tech giant Sberbank unveiled its next-generation AI chatbot, GigaChat. Powered by advanced AI technology, GigaChat is designed to be a rival to ChatGPT, the brainchild of Microsoft-backed startup OpenAI. GigaChat is currently in an invite-only testing mode, but the hope is that it could revolutionise how people work.
Sberbank claims that what sets GigaChat apart from competitors is its ability to communicate more intelligently in Russian than other, foreign neural networks. This comes as Russia has increasingly been investing heavily in technology in recent years, in order to reduce its reliance on imports, something that has become especially critical with the implementation of international sanctions on Moscow.
Sberbank is Russia’s biggest bank, and is headquartered in Moscow. It was founded in 1788 and is one of the world’s largest banks, with over 200,000 employees and 20 million clients in 22 countries around the globe. Its objectives are to reduce poverty, support small business development and investments in technology, while also promoting economic stability and financial literacy in the country.
German Gref is the current CEO of Sberbank, and is commonly referred to as the architect of the bank’s ‘transformation’. Before joining Sberbank, Gref held a number of posts in President Putin’s cabinet, working in various roles including Minister of Economic Development and Trade. He has been the CEO of the bank since 2007, and is largely responsible for the introduction of a number of innovative services, such as Sberbank Online, Sberbank Card and Sberbank Direct.
GigaChat is set to mark a major milestone in Sberbank’s history, being the first AI chatbot released by the bank. Although still in its testing phase, the chatbot is expected to offer users an intuitive, conversational experience and ultimately be an AI-powered competitor to ChatGPT. With the technology industry currently in a sprint to launch AI chatbots and reshape the way people work, GigaChat could be a valuable asset for Sberbank in the near future.
Overall, the release of GigaChat is a major move for Sberbank, and one that could have far-reaching implications for the global AI industry. With its ability to communicate more intelligently in Russian than other foreign AI neural networks and Gref’s vision of innovation at the helm of the company, it is likely GigaChat will be a successful venture in the years to come.
