Sberbank eyes ties in cyber security, digital literacy, AI

New Delhi: Russia’s biggest bank, Sberbank, has expressed interest in supporting India’s push for digitisation and willingness to explore collaboration in the fields of artificial intelligence (AI), digital literacy and cyber security.

“India is currently one of the leaders in artificial intelligence technology in the region. The national government has created favourable conditions for opening research centres. The AI-related developments receiving the support of the government also help in attracting international companies to invest in the Indian market,” AA Vedyakhin, first deputy chairman of the executive board of Sberbank, told ET ahead of the second edition of Indo-Russian Strategic Economic Dialogue to be hosted by the NITI Aayog in Delhi on July 9-10.

Vedyakhin further said, “Developments in the AI field will inevitably bring about changes in the labour market and those changes will not be limited to India only. It is important to understand that developments in AI technology will help to create new jobs all over the world.”


Implementing AI solutions drastically simplifies many routine tasks that cyber security departments are entrusted with. The amount of data is growing exponentially and cannot be dealt without the AI, said the banker.