Sberbank CEO tells Putin of huge returns on its AI investments

South Africa News News

Sberbank CEO tells Putin of huge returns on its AI investments
South Africa Latest News,South Africa Headlines
  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 66%

MOSCOW: Russia's dominant lender Sberbank is making around US$3 billion each year from artificial intelligence, a return on investment of about 200 per cent, CEO German Gref told Russian President Vladimir Putin on Wednesday (Jul 19). Advances in generative AI by firms such as startup OpenAI, backed by Mic

MOSCOW: Russia's dominant lender Sberbank is making around US$3 billion each year from artificial intelligence, a return on investment of about 200 per cent, CEO German Gref told Russian President Vladimir Putin on Wednesday .

"Every year we invest a sum of around US$1 billion in artificial intelligence technology," Gref told Putin at a televised event in the Kremlin."And we get about US$3 billion back from artificial intelligence."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

ChannelNewsAsia /  🏆 6. in SG

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Putin vows 'response' after Ukraine attack on Crimea bridgePutin vows 'response' after Ukraine attack on Crimea bridgeThe bridge had not been used for military transportation “for a long time”. Read more at straitstimes.com.
Read more »

Fox names Vimeo's Anjali Sud as Tubi streaming service CEOFox names Vimeo's Anjali Sud as Tubi streaming service CEOFox Corp on Monday named Anjali Sud, the former longtime head of video-sharing platform Vimeo, as the chief executive of its streaming service Tubi.Sud recently stepped down as the CEO of Vimeo, after about nine years at the streaming platform. She will report into Tubi Media Group CEO Paul Cheesbrough.
Read more »

Anthropic CEO to testify at US Senate hearing on AI regulationAnthropic CEO to testify at US Senate hearing on AI regulationWASHINGTON : Anthropic CEO Dario Amodei will testify on July 25 at a U.S. Senate hearing on artificial intelligence as lawmakers consider potential regulations for the fast-growing technology, the Senate panel scheduling the hearing said on Tuesday.The Senate Judiciary Subcommittee on Privacy, Technology,
Read more »

Russia strikes Ukraine port after pulling out of grain export dealRussia strikes Ukraine port after pulling out of grain export dealUkrainian officials said Moscow was attempting to go back on the offensive in the east. Read more at straitstimes.com.
Read more »

UN says ideas 'floated' on how to get Ukraine, Russia grain to worldUN says ideas 'floated' on how to get Ukraine, Russia grain to worldUNITED NATIONS: There are a 'number of ideas being floated' to help get Ukrainian and Russian grain and fertilizer to global markets after Moscow quit a deal allowing the safe Black Sea export of Ukraine grain, the United Nations said on Tuesday (Jul 18). The Black Sea deal was brokered by the UN and Türk
Read more »



Render Time: 2025-03-21 06:11:10