AI Economic Impact in Russia to Reach $4.2Bln by Year-End

KUBINKA (Sputnik) - Artificial intelligence (AI) technologies will help Russian companies to reduce operating expenses, and the economic impact from this will reach 400 billion rubles ($4.2 billion) by the end of the year, Dmitry Chernyshenko, the Russian deputy prime minister, said at the Army-2023 military forum on Friday.

“According to experts, by the end of 2023 the economic impact from reducing operating costs with help of AI technologies will reach 400 billion. I think it is a modest estimate,” Chernyshenko stated.

A draft new AI strategy will be presented in September, the deputy prime minister added.

“The strategy for the national development of artificial intelligence, from 2019 to 2030, it is constantly updated... In September, the draft of the updated strategy will already be submitted to Prime Minister [Mikhail Mishustin], and then in November we are already planning to receive the approval from President [Vladimir Putin]," the official noted.

Chernyshenko's office said in May that the work on updating the current strategy was on, and the goal is to make sure that the AI can be used in all sectors of the economy as well as in the social sector in the next few years.

The 2023 edition of the ministry's flagship annual Army forum is running from August 14-20. Sputnik is an official media partner of the event.