Russia’s Largest Bank, Sberbank Enters Generative AI Arms-Race

Sberbank, the biggest bank in Russia, has made GigaChat, a competitor to ChatGPT. Also, the lender announced the new creative AI system on Monday, and it is currently being tested by people who have been invited.

With this change, Sberbank can join the AI arms race, which is constantly growing. After that, the OpenAI program made a market that had been missed. On the other hand, Elon Musk and Google have taken advantage of the technology by creating their own ChatGPT systems. Also, Sberbank’s GigaChat is the most recent rival. 

So far, in 2023, the tech world has talked a lot about how the general public uses ChatGPT. Many people feared losing their jobs when the system emerged, so the industry tried to keep up with its rapid growth. Now, there is a new rival in the ring.

Sberbank Introduces ChatGPT Rival

Sberbank, Russia’s biggest bank, is joining the race by making its app that competes with ChatGPT. Also, the competitor’s program is called GigaChat, and it’s likely to become a vital part of the lender’s business as time goes on. 

Reuters wrote about what the bank said about how its innovative AI system differs from many others on the market. Sberbank said that GigaChat could talk more wisely in Russian, the lender’s primary language, than other neural networks from other countries. 

The bank has been known for investing money in technology in the past few years. Also, the Russian bank has tried to reduce how much it depends on imports, which is a crucial step given that Western governments have put sanctions on Russia. On the other hand, GigaChat is the bank’s latest effort to make something similar in their home country.