Artificial intelligence could make 80 percent of all decisions for Russian lender Sberbank by 2021, company CEO German Gref said Thursday.
Such a change would see tens of thousands of
people lose their jobs, Gref said.
Speaking at an annual event held by Moscow's
Higher School of Economics, Gref emphasized that a large number of
decisions at the bank were taken "without human intervention."
“About 50 percent of the decisions that were made by people five years ago are made today by computers. We believe that in five years or so, 80 percent of all decisions will be made using artificial intelligence,” he said.
The decision making
process will be of "significantly better quality," but
would cause “tens of thousands of people to
lose their job,” Gref said.
Sberbank had already announced
plans to embrace several new technological advances, including the
use of facial and voice recognition for customers in 2017.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
