Since its launch in late 2022, OpenAI's ChatGPT has quickly become the gold standard in generative AI. However, Russia's largest bank, Sberbank, decided not to be outdone and recently introduced its own AI chatbot – GigaChat. Although access is limited to invitations only for now, this represents a real breakthrough for Sberbank.
GigaChat: the most intelligent Russian chatbot
Russian government-owned Sberbank has been investing heavily in technology to reduce its dependence on foreign products and services, especially since the international sanctions imposed on Russia. With generative AI becoming increasingly popular, it makes sense that the bank decided to compete with ChatGPT.
GigaChat was published on the bank's website under the title “ChatGPT: Sber opens access to its latest neural network model.” It was said that the AI is able to communicate in Russian with more intelligence and fluency than international chatbots. It remains unclear whether the Russian chatbot will be made available to the general public, but it seems that Sberbank prefers to limit the distribution of its AI outside Russia.
The exorbitant cost of generative AI
While many generative AI chatbots have appeared on the market in recent months, few are able to compete with ChatGPT. This is largely due to the high cost of these platforms. According to recent reports, ChatGPT costs its developers about $700,000 per day to stay operational, a real money pit.
Sberbank's GigaChat is a more affordable alternative, provided the user can read Russian. Generative AI seems to be the new playground for companies looking to invest in technology. While OpenAI's ChatGPT remains the leader in this market, it will be interesting to see how Sberbank's GigaChat evolves in the future.