Sberbank and Yandex Seek Government Support for AI Development

Sberbank and Yandex have requested substantial government assistance to boost their AI initiatives, but authorities are focusing on non-financial support.

3 min readBusiness

Sberbank and Yandex, two major players in the Russian tech landscape, have approached the government for financial backing ranging from 400 to 450 billion rubles to enhance their artificial intelligence projects. However, the government is currently prioritizing non-financial forms of support, such as tax breaks and credit incentives, rather than direct funding. This shift in focus indicates a strategic approach to fostering innovation while managing budgetary constraints. The tech giants argue that financial assistance is crucial for maintaining competitiveness in the rapidly evolving AI sector. Despite the government's reluctance to provide direct financial aid, discussions are ongoing regarding potential regulatory adjustments and other supportive measures that could facilitate growth in the AI domain. As the landscape of artificial intelligence continues to evolve, the collaboration between the state and these tech companies will be vital in shaping the future of AI in Russia.

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