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Russia Allocates 5.2 Billion Rubles for AI Technology Development in 2024

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TL;DR

  • Russia will invest 5.2 billion rubles in AI for 2024, emphasizing its commitment to technological advancement.
  • The AI market in Russia will grow by 18%, reaching 650 billion rubles in 2022, showcasing the nation’s potential. 
  •  Russia’s updated AI strategy aims to support over 5,000 organizations, potentially adding 11 trillion rubles to GDP.

 

Russia’s Prime Minister Mikhail Mishustin has announced a significant commitment of 5.2 billion rubles in federal funding for developing artificial intelligence (AI) technology in 2024. Speaking at the AI Development strategy session, Mishustin emphasized the government’s dedication to advancing AI despite attempts to restrict Russia’s access to cutting-edge technologies.

Robust growth in the AI market

The AI market in Russia has witnessed impressive growth, with a remarkable 18% increase, reaching nearly 650 billion rubles in 2022. This growth highlights the country’s potential as a hub for AI innovation. Approximately 1,000 Russian organizations are involved in AI, underlining the nation’s interest in this transformative technology.

An updated national strategy for AI

Prime Minister Mishustin stressed the importance of crafting an updated national strategy for AI. He emphasized the need to identify fundamental support scenarios for AI in Russia, forming the basis for the revised strategy. The overarching goal is to align these strategies with the objectives outlined by the President. This updated strategy should encompass key elements such as enhancing computing power, initiating mid-stage venture capital financing, and eliminating regulatory barriers.

Broad-based support and development

Deputy Prime Minister Dmitry Chernyshenko outlined the forthcoming strategy’s multifaceted approach to AI development until 2030. The plan includes measures to create essential infrastructure, advance scientific research, train skilled professionals, and facilitate the widespread adoption of AI solutions. Chernyshenko predicts that AI will generate approximately 1 trillion rubles for Russian companies by 2025.

Fostering a thriving AI ecosystem

To support the implementation of this ambitious strategy, over 5,000 organizations are set to receive support and preferential access to computing power for AI development. State support is expected to enable 95% of companies to integrate AI technology into their operations, with 85% of economic entities becoming familiar with AI principles to enhance their work tasks.

International collaboration and research initiatives

Russia is poised to embark on more than 300 scientific and applied research projects by 2030, emphasizing international collaboration. These projects will leverage global expertise and promote Russia’s standing in the global AI community.

Economic impact of AI adoption

Deputy Prime Minister Chernyshenko expressed optimism about the economic impact of widespread AI adoption in Russia. He projected that, with “maximum investments,” the mass adoption of AI could contribute a substantial 11 trillion rubles to Russia’s GDP within five years.

Russia’s Pioneering Regulatory Environment

Chernyshenko reiterated Russia’s commitment to fostering an environment conducive to AI technology development. He emphasized that Russia aims to maintain one of the world’s most favorable regulatory environments for the efficient development of AI technologies, reinforcing the nation’s ambition to lead in AI innovation.

As Russia allocates substantial resources and outlines an updated national strategy for AI development, it is poised to become a significant player in the global AI landscape. With the potential to add trillions to its GDP and support thousands of organizations, the nation is laying the groundwork for a thriving AI ecosystem and a prosperous technological future.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

 

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Glory Kaburu

Glory is an extremely knowledgeable journalist proficient with AI tools and research. She is passionate about AI and has authored several articles on the subject. She keeps herself abreast of the latest developments in Artificial Intelligence, Machine Learning, and Deep Learning and writes about them regularly.

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