Russian AI market may grow to 28 billion rubles in 2020

Nov 27, 2017

Russian AI market may grow to 28 billion rubles in 2020

The report by TAdviser and Jet Infosystems companies says that AI market in Russia may grow 40 times within three years. It is now estimated at 700 million ruble, according to the results of this year. It will be 28 billion rubles in 2020, experts predict.

Finance, retail and industry are the key areas of future development. The analysts have surveyed 100 Russian companies on the use of machine learning technology in their work. 25 out of 100 use it, another 60 companies reported that they are going to increase the budget for the development of AI-solutions.

Russia invested about $23 billion in artificial intelligence development from 1997 to 2017. Public sector, transport industry and security projects will get most of the money. All projects are about photo and video analysis or decision support systems. The example is a video surveillance system in Moscow that can recognize faces.

 

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