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Thu, 09/28/2023 - 11:11

Russia to Invest $54Mln in Development of AI Technologies in 2024

MOSCOW (Sputnik) - The Russian authorities plan to accumulate 5.2 billion rubles ($54 million) for the development of artificial intelligence (AI) technologies in 2024, Russian Prime Minister Mikhail Mishustin stated on Tuesday.
"The overall amount of 5.2 billion rubles is to be provided from the federal funds to develop AI during the next year," Mishustin said during a strategic session on AI development.
The prime minister stressed that the overall volume of the AI market in Russia reached almost 650 billion rubles in 2022, an increase of 18% compared to 2021.
"About 1,000 of Russian companies included in the list of innovative companies participate in this area," Mishustin emphasized, adding that the financial sector is leading when it comes to the use and development of AI.
The potential of AI is actually much bigger, with the business community needing to be engaged more there, the prime minister also stated.
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