Russia’s largest bank Sberbank launches ChatGPT rival called GigaChat
Nickie Louise
Posted On April 24, 2023
Russia’s largest bank Sberbank has jumped into the AI race with the launch of a new chatbot to take on OpenAI’s ChatGPT. Sberbank announced on Monday it had released a rival AI chatbot called GigaChat is currently initially in an invite-only testing mode.
Sberbank, which currently has 37% of the banking sector, said what sets GigaChat apart from the current AI chatbots is its ability to communicate more intelligently in Russian than other foreign neural networks, Reuters reported.
Sberbank becomes the latest to join the ever-increasing list of tech companies embracing the global artificial intelligence (AI) race ignited by the popularity of ChatGPT.
In an effort to reduce Russia’s dependence on imports, Sberbank has made substantial investments in technology over the past few years. With Western nations limiting exports to Russia and imposing sanctions in response to Moscow’s activities in Ukraine, this shift has become a critical priority for the bank.
The popularity of AI-focused cryptocurrencies has surged since the beginning of the year, in part due to the success of ChatGPT, the mainstream chatbot. However, some doubt the long-term sustainability of these tokens, believing that recent gains are a short-term price increase driven by opportunistic traders taking advantage of the hype.
In just two months after its launch, ChatGPT went from an obscure AI tool to reaching 100 million monthly active users in January, making it the fastest-growing consumer application in history. The sudden success of ChatGPT has put more pressure on other tech companies including Google, Baidu, and Alibaba, to launch their own ChatGPT-like tools.
Generative Pre-training Transformer (GPT) is a type of language model developed by OpenAI. It is a neural network-based model that is trained to generate human-like text by predicting the next word in a sequence based on the words that come before it. ChatGPT and other generative AI tools use a large language model (LLM) technique to generate text in a chat-like or conversational style.
