12:26 GMT +307 December 2019
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    Russian Direct Investment Fund Joins Forces With Russian Government to Develop AI Industry

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    VLADIVOSTOK, Russia (Sputnik) - The Russian Direct Investment Fund (RDIF) has stated that it signed an agreement with the Russian government to develop the artificial intelligence (AI) industry in the country.

    "The RDIF is joining forces with the Russian government to develop one of the most promising sectors of the national economy. Foreign investment and expertise will stimulate the development of leading Russian companies specialising in the artificial intelligence industry", Dmitriev said as quoted in the statement.

    In line with the agreement, the RDIF will invest in Russian companies developing AI industry and infrastructure, including the cloud services, data processing and storage centres. It will also attract foreign investment and expertise. One key task is to promote Russian companies specialising in AI on the international market.

    "The Russian government, in turn, will create all the necessary conditions, such as a comfortable regulatory environment and various state support mechanisms", Akimov noted.

    The document was signed on the sidelines of the Eastern Economic Forum (EEF) by RDIF CEO Kirill Dmitriev and Russian Deputy Prime Minister Maxim Akimov.

    By the end of autumn, RDIF plans to invest in Oncobox, an innovative system to select medicine for the treatment of cancer, based on AI. RDIF is also negotiating with a Russian company that processes satellite imagery of the Earth, helping it enter the markets of the Middle East. In addition, the company Motorica, which develops and manufactures unique world-class artificial limbs using AI, has already been successfully introduced into Asian markets by RDIF.

    RDIF will also serve as a platform for partnership between Russian and foreign companies and establish a centre for the development of artificial intelligence together with Lomonosov Moscow State University.

    Russia's far eastern city of Vladivostok is hosting the fifth annual EEF from 4-6 September. The Rossiya Segodnya International Information Agency is an official media partner of the event.

    Tags:
    Russian Direct Investment Fund (RDIF), Artificial Intelligence (AI), Eastern Economic Forum, Russia
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