Herman Gref, the head of Sberbank, oversees the creation and implementation of AI-based technologies within the company. Such products improve the organization’s customer service, enhance security, and accelerate business processes. This article will highlight the top manager’s position on the development of generative AI and the significance of competition in advanced technologies. The concluding section will briefly cover Gref’s biography.
Sber’s Investments in Generative AI Are Expected to Pay Off Soon
Recently, many news media have spread Gref’s forecast about the prospective ROI on the funds Sber invested in generative AI. This technology is expected to start generating income in 2026–2027. The top manager made this statement at the annual Investor Day. At the event, he met with the company’s largest clients, partners, and brokers to discuss business performance, development strategy, and industry trends.
The bank has already developed dozens of AI application cases for its ecosystem, and this number keeps growing. Gref regularly mentions this in his interviews and public speeches.
For example, Sber uses a set of its custom AI models to improve the security of online money transfers, acquiring, and card transactions. The technology helps detect fraud attempts as well as identify situations that require immediate attention—for instance, when a child spends money from their mother’s card without permission.
AI is also valuable for salary analytics. It processes large amounts of data from varied sources, considering more than 100 indicators. Then, it generates a real-time labor market map with recommendations for salary adjustments in specific locations.
At the end of last year, Sber integrated its tailor-made GigaChat AI consultant into its mobile app. Its operation principles resemble those of search engines. Users type in their queries in a search bar and receive instant results. GigaChat stands out from alternatives due to its power, precision, and speed. The range of questions it can address is not limited to banking-related topics. GigaChat can not only consult customers on loans or cash withdrawals but also offer advice on nutrition, entertainment, shopping, and many other subjects.
Importance of Competition in the Financial Technologies Sector
Since Herman Gref is the head of Sber, it is natural for him to comment on issues that are relevant to the entire financial industry. One of the key topics he often emphasizes is the risk of monopolization.
Rumors have been circulating about two technological giants potentially joining forces in the generative AI niche—and one of these companies is allegedly Sber. However, Gref clarifies that, for now, this information is not relevant. Each of these giants plans to continue working independently, which is beneficial for the entire industry. Moreover, the top manager acknowledges that Sber treats its competitors with great respect.
Starting in 2025, companies engaged in research may gain access to governmental grants to utilize supercomputer capacities. Sber is among the few businesses capable of sharing such resources. Third-party experts recognize that demand for existing supercomputers among researchers is twice as high as the supply. Competition in this niche drives technological giants to develop even more advanced solutions, ultimately fostering progress across various fields.
Beyond AI development, monopolization could also negatively impact the payment solutions niche. Herman Gref has repeatedly voiced this concern. In theory, a central regulator could take full control over QR code and smile-based payments. However, the head of Sber warns that this could demotivate innovators who invest significant resources into developing cutting-edge solutions.
Sberbank takes particular pride in integrating biometric payments with smiles into everyday life. This approach eliminates the need for people to carry smartphones or cards. Many retail stores already support smile-based payments, and in the subway, this technology is helping to speed up passenger traffic, which is especially valuable during rush hours.
Gref’s Private Life
Herman Gref does not speak publicly about his family too often, but some information is nevertheless available to the general public. Gref’s wife launched a private school for gifted children, where the most talented students can receive grants to attend. Gref’s kids study there as well.
