Yakov and Partners - In the media

Russia is one of 10 countries, including the U.S., China, Britain and Israel, that are developing their own generative AI models. Yakov and Partners says this gives it the potential to become a much more significant player.
Russia sees the use of AI technologies across all sectors adding 11.2 trillion roubles ($109 billion) to gross domestic product in 2030, compared to 0.2 trillion roubles ($1.9 billion) in 2023

Mentioning artificial intelligence tends to put people in mind of technological leaders in this industry, i.e., the US or China. However, AI could also hugely benefit countries in the Global South, whose development hinges on new technologies. Maxim Bolotskikh, a Partner at Yakov and Partners, sat down with Sputnik Africa to discuss the potential of developing AI technologies in BRICS+ countries

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According to Maksim Bolotskikh, major Russian companies that set about implementing AI agents typically rely on either foreign LLMs (GPT 4, Llama, or Claude) or closed-source domestic solutions with proprietary licenses and high server capacity requirements. He believes that releasing an open-source solution with a hybrid reasoning model sets a unique precedent for the domestic market

Maksim Bolotskikh, a Partner at Yakov and Partners, points out that the domestic generative network market is variously estimated at between RUB 10 and 15 billion. He adds that “key players set their sights on long-term prospects”

Despite the availability of foreign alternatives, most domestic companies have reservations about using them on a commercial scale due to the complexity of access, information security considerations, or in some cases, due to legislative restrictions, says Maxim Bolotskikh

Many companies are testing GPT solutions, but they are not getting the expected results and are therefore refusing to use them.“Banks, technology companies, telecoms, and retailers lead the way in terms of implementation of GPT solutions and are continuing to actively incorporate such solutions into their operations. They collectively account for approximately 50% of the impact expected from generative AI,” says Marina Dorokhova, a Senior Engagement Manager at Yakov and Partners

According to Marina Dorokhova, the adoption of AI varies from industry to industry. About 70% of companies in the metals and mining industry use AI internally and plan to expand its use. This is why investments in this area are growing. However, in the oil and gas, electric power, and chemical industries, only a third of companies have reached a level of maturity that allows them to scale AI within their organizations, allocate money for it, and make it a strategic goal

AI has become a real game changer. As more and more large-scale models are rolled out globally, the share of companies using AI in at least one function now stands at 72% globally vs. just 20% back in 2017. This pace of AI proliferation means that no economy, industry, company, or consumer remain untouched by AI today, says Marina Dorokhova

The new reasoning AI model being developed by Yandex should be able to build complex chains of thought, check its own work and recognize its own mistakes. Maxim Bolotskikh notes that the annual development costs may total at over RUB 10 billion. At the same time, models of this kind can not only be monetized through classic B2C subscriptions, but will also become widely applicable in the B2B segment

The US government is contemplating new rules that will set caps for export of chips that power data centers and are used for AI development. Maxim Bolotskikh highlights the key challenges of the current situation. For example, it is US-produced chips that are predominantly used for training the most complex generative AI models in most countries around the world. Yet, for a number of countries, their application is fraught with difficulties, and the situation is not getting any better with each year

Largest IT players and government institutions lead the way in AI development in this country. Russian big-tech firms (first and foremost, Yandex, Sber, and VK) are the main driving force behind the development and wide-scale implementation of AI technologies. They invest in R&D, launch educational initiatives, set up data centers and integrate AI into everyday services, says Maksim Bolotskikh

A ride in an autonomous taxi during its introduction in Russia is likely to be slightly more expensive than a traditional taxi, as the cost will include the development of innovative technologies and economies of scale may not be fully realized. However, the price of the service should not increase significantly to maintain competitiveness. This opinion was expressed by Maxim Bolotskikh, a partner at Yakov and Partners

The use of artificial intelligence (AI) in healthcare has the potential to make medicine more accessible to all segments of the population, according to Marina Dorokhova, a Director of Yakov and Partners. She stated that objectively, technology will continue to drive the market forward and create new opportunities. Dorokhova emphasized that the first benefit is an overall improvement in the quality of medical care, including how accurately diagnoses are made

Chatbots with artificial intelligence, like ChatGPT, will be able to help people cope with anxiety, said Marina Dorokhova, Director of Yakov and Partners. "Together with Medsi, we have developed an AI assistant, and it is a psychologist who currently helps us work with emotions such as anxiety. In total, he has more than 60 different mechanics and tools that help a person in a chatbot mode and communicate with it"

In order to transform AI into a real growth driver, banks need to move from isolated experiments to systemic solutions and start adapting their business processes to new technologies. However, this would require adjusting personal data laws and rethinking the established approach to bank-client privilege, believes Maxim Bolotskikh, a Partner at Yakov and Partners

AI will not replace humans, but it can help to reduce repetitive tasks and free up time for more creative work, according to Marina Dorokhova, a director of Yakov and Partners. She sees the neural network as a tool that can assist and support people in their work. Dorokhova emphasizes the importance of using AI to improve productivity and efficiency, while also allowing people to focus on more challenging and meaningful tasks

Yakov and Partners’ Associate Nikita Vlasov points out that in smaller regional networks, the level of digitalization is considerably less profound than in the top 20 clinics. Market leaders have inhouse digital teams with dozens of IT specialists who implement their own MIS and AI for diagnostics. Joining a large platform gives smaller clinics a digital advantage, but more often than not, what motivates sales is high competition, complex economics, and the desire to scale the business