Sberbank fearing rivalry with artificial intelligence and blockchain

Jul 3, 2017

Sberbank fearing rivalry with artificial intelligence and blockchain

The Chairman of the Executive Board at Sberbank Herman Gref has recently announced that artificial intelligence can supersede bankers because of its ability to perform the same operations faster and without mistakes.

During his lecture “New technological trends and effective management models” Gref said that AI technologies were a modern sector developed by the best minds of the world. Many companies are implementing AI solutions in their services and products. In the nearest future, clients will prefer communicating with brands and financial institutions via digital assistants, rather than personally.

Gref also mentioned increasing demand for cryptocurrencies. In his opinion, the market will evolve rapidly, even Russia started considering implementation of blockchain technologies and legalization of digital money. The specialist also emphasized that cryptocurrency volatility was quite high and would stay at the same level during a long period. Technologies are too young and you never know when you make a profit or lose a lot of money.

The financial expert named one more modern trend – appearance of spheres where digital platforms and mobile apps were main resources.

At the end of his lecture, Gref said that people stopped valuing things – they valued functions and opportunities of these things. Not to get confused with new devices and technologies, consumers need simple and convenient solutions such as artificial intelligence and blockchain. These technologies will change our lives in ten years.

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