Russian authorities budget around $54.05 mln for AI development in 2024 — PM

MOSCOW: Russian authorities have allocated about 5.2 bln rubles ($54.05 mln) in the federal budget for next year for the development of arti...

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MOSCOW: Russian authorities have allocated about 5.2 bln rubles ($54.05 mln) in the federal budget for next year for the development of artificial intelligence technologies, Russian Prime Minister Mikhail Mishustin said on Tuesday.

"In total, 5.2 bln rubles are allocated from federal funds for the development of artificial intelligence for the next year," he said.

Mishustin added that the Russian artificial intelligence market grew by 18% in 2022 alone, reaching almost 650 bln rubles ($6.74 bln). "The volume of the artificial intelligence market last year reached almost 650 bln rubles. The growth reached around 18%," he said.

In addition, Russia’s gross domestic product (GDP) will add over 11 trillion rubles ($114.4 bln) by 2030 thanks to the massive introduction of artificial intelligence (AI) technologies, the office of Deputy Prime Minister Dmitry Chernyshenko told reporters. "Thanks to the implementation of the strategy by 2030, <...> with maximum investments over 5 years, additional GDP growth from the mass implementation of AI is predicted in the amount of 11.2 trillion rubles total by 2030," the statement said.

-News Feed