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.
… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.
We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.
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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.
Remind me later.
