CEO of Russian bank Sberbank German Gref said that the room for a broad economic growth model has run out and the application of new technologies, including artificial intelligence (AI), is necessary to create growth momentum.
Expansion growth has run out of room and the level of exploitation of existing capacity has almost reached the limit. Therefore, it is necessary to bring new technologies into the economy. And of course, artificial intelligence is the foundation of these technologies" - TASS quoted CEO German Gref's statement at Sberbank's annual general meeting of shareholders.
Mr. German Gref also emphasized that the deployment of new technologies requires significant investment capital.
To apply these technologies, investment is needed. Modernizing production as well as building new production cycles all require investment capital" - Sberbank CEO German Gref added.
