AsianFin -- Sberbank, Russia's largest financial institution, has announced plans to collaborate with Chinese researchers on artificial intelligence (AI) projects. This move comes after DeepSeek, a Chinese startup, made notable advancements in developing an AI model that challenges U.S. dominance in the field.

Alexander Vedyakhin, First Deputy CEO of Sberbank, stated that the bank's scientists will join forces with Chinese experts to work on groundbreaking AI projects. The goal of this collaboration is to strengthen AI cooperation between Russia and China, with both countries viewing such partnerships as essential to countering Western influence.

Russian President Vladimir Putin has instructed the Russian government and Sberbank to ramp up AI cooperation with China, designating Prime Minister Mikhail Mishustin and Sberbank CEO Herman Gref to lead the efforts. A progress report on this initiative is expected by April 2025.