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

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

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

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