Sberbank CEO Herman Gref has revealed that artificial intelligence is responsible for 98% of decisions on lending to natural persons and 30% of decisions on lending to legal persons in the bank.

He believes that AI is the chief technology today, the “new electricity” of the digital age that the world entered in 2015.

“Artificial intelligence has not only simplified access to information, improved its quality and accelerated its processing, but has also enabled us to automate decision making. This concerns both the administrative skills and daily decisions that any person has to make,” Banki.ru quotes Herman Gref.


Mr Gref is certain that the abilities of human intellect are insufficient for progress. “We would have to change all abilities and capabilities of our brain. That’s impossible! The human is the most flawed machine. You can replace the CPU and install two cores instead of four, but you cannot do the same with a human,” said Herman Gref.


Sberbank CEO has noted that at the same time many technologies carry significant risks. He has brought up the example of China, which has placed 150 million surveillance cameras nationwide. The Chinese government plans to install 450 million more by 2025.

“The attitude to these technologies is rather complicated, but they secure what you could call “total transparency”. Thus, access to all data about everyone and everything will be impossible to restrict. What would the world be like if each of us lives in a “glass house” and no one can hide anything?” noted Herman Gref.

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