28 Nov 2019 13:35

Sberbank to form autonomous technologies JV with Cognitive Technologies

MOSCOW. Nov 28 (Interfax) - Sberbank and Cognitive Technologies have signed binding documents to form the autonomous technologies joint venture Cognitive Pilot, Russia's leading lender said in a press release.

Sberbank will hold a 30% stake in the venture, and the founders and management of Cognitive Technologies will own 70%, the bank said. The company will be headed by Cognitive Technologies founder Olga Uskova.

Cognitive Pilot will work on developing advanced driver-assistance systems based on artificial intelligence technologies and autonomous control systems for vehicles and industrial devices.

"The world is now standing on the threshold of mass use of driverless solutions and we want both the Sberbank Group and our whole country to be in the vanguard of this trend," Sberbank first deputy CEO Lev Khasis was quoted as saying in the press release.

He recalled that "this year Sberbank became the competency center for development of artificial intelligence in Russia."