Life extension, asset sales, AI profitability: key statements from Sber CEO

Résumé détaillé

According to German Gref, the bank’s key objective for 2027-2029 is to position itself as a driver of the new economy

MOSCOW, November 12. /TASS/. Sberbank is financing advanced life extension methods and sees great potential in this field, Sber CEO German Gref said at the bank’s Investor Day.

He noted that Sber’s investments in artificial intelligence are fully paying off, but its investments in generative AI are not.

In addition, Sberbank expects to sell all its unneeded warehouses to marketplaces by the end of the year.

Sber’s key objective for 2027-2029 is to position itself as a driver of the new economy: "Sber has historically strong positions: the trust of millions, financial capital, and risk management expertise accumulated over decades. And this gives us the right and the responsibility to aspire to the role of a driver of the new economy, and this is our key objective for the next three years."

There are three priorities on which the bank’s future will be built: "The first is an AI assistant - your personal navigator that will help you solve everyday tasks based on your interests and long-term aspirations. The assistant should take over 90% of organization and execution. You simply say what you want to achieve, and that’s it. The second is an environment for trusted interaction between agents. The third is a system of the best products and services."

Sber’s investments in artificial intelligence are fully paying off, but its investments in generative AI are not: "Unfortunately, generative artificial intelligence is not yet paying off for us or for any company in the world involved in developing it. But what saves us is precisely the fact that we started implementing artificial intelligence a very long time ago, and overall, our investments in artificial intelligence are fully paying off."

Sberbank has earned about 1.5 trillion rubles ($18.1 bln) from artificial intelligence technologies over the past three years: "Over the past three years, we have earned approximately one and a half trillion rubles from the use of artificial intelligence.

Sberbank is financing advanced life…

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