Russia’s largest banks collectively invest about $1 billion a year in the development of solutions based on Artificial Intelligence (AI), and the profit from these investments reaches $3 billion a year.

This is said in a study by the “Fintech” association cited by TASS.

Over the past 10 years the largest Russian financial organizations have already invested more than $10 billion in AI development.

The mentioned banks are the five largest Russian credit organizations by total asset as of the end of 2022.

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