Russia’s Prime Minister Mikhail Mishustin has announced a significant commitment of 5.2 billion rubles in federal funding for developing artificial intelligence (AI) technology in 2024. Speaking at the AI Development strategy session, Mishustin emphasized the government’s dedication to advancing AI despite attempts to restrict Russia’s access to cutting-edge technologies.

The AI market in Russia has witnessed impressive growth, with a remarkable 18% increase, reaching nearly 650 billion rubles in 2022. This growth highlights the country’s potential as a hub for AI innovation. Approximately 1,000 Russian organizations are involved in AI, underlining the nation’s interest in this transformative technology.

Deputy Prime Minister Dmitry Chernyshenko outlined the forthcoming strategy’s multifaceted approach to AI development until 2030. The plan includes measures to create essential infrastructure, advance scientific research, train skilled professionals, and facilitate the widespread adoption of AI solutions. Chernyshenko predicts that AI will generate approximately 1 trillion rubles for Russian companies by 2025.

To support the implementation of this ambitious strategy, over 5,000 organizations are set to receive support and preferential access to computing power for AI development. State support is expected to enable 95% of companies to integrate AI technology into their operations, with 85% of economic entities becoming familiar with AI principles to enhance their work tasks.

Russia is poised to embark on more than 300 scientific and applied research projects by 2030, emphasizing international collaboration. These projects will leverage global expertise and promote Russia’s standing in the global AI community.

Deputy Prime Minister Chernyshenko expressed optimism about the economic impact of widespread AI adoption in Russia. He projected that, with “maximum investments,” the mass adoption of AI could contribute a substantial 11 trillion rubles to Russia’s GDP within five years.

Chernyshenko reiterated Russia’s commitment to fostering an environment conducive to AI technology development. He emphasized that Russia aims to maintain one of the world’s most favorable regulatory environments for the efficient development of AI technologies, reinforcing the nation’s ambition to lead in AI innovation.

As Russia allocates substantial resources and outlines an updated national strategy for AI development, it is poised to become a significant player in the global AI landscape. With the potential to add trillions to its GDP and support thousands of organizations, the nation is laying the groundwork for a thriving AI ecosystem and a prosperous technological future.