Russia's Sberbank Launches GigaChat, an AI Chatbot Rivaling ChatGPT
Russian bank Sberbank has recently come up with GigaChat, a technology that rivals the Microsoft-backed OpenAI’s ChatGPT. The initial release of ChatGPT last year has sparked huge interest in the tech industry to get AI chatbots to a broader audience with the goal of changing how people work and win business in the process. Sberbank has launched GigaChat in an invite-only testing mode, with an edge on its ability to communicate more intelligently in Russian than other foreign neural networks.
GigaChat’s Superiority
The launch of GigaChat by Sberbank points to its heavy investment in technology in recent years. The bank is seeking to reduce the country's reliance on imports, which have become critical, especially as Western nations have slashed exports to Russia and imposed punitive sanctions over Moscow's actions in Ukraine. One of the notable features of GigaChat is its ability to communicate more intelligently in Russian. Neural networks are often trained on English and other European languages, and as such, their response to the Russian language has been a challenge.
The chatbot is set to provide a better user experience in Russian, including more advanced communication abilities, better understanding of slang and modern communication nuances, and a natural response to specific cultural aspects of the country. The chatbot will be a valuable addition to businesses in Russia, especially those that do not have a significant international customer base.
Impact of AI Chatbots on Business
The democratization of AI chatbots has a significant impact on businesses globally, providing a cost-effective solution to many customer engagement, sales, and marketing processes. AI chatbots, including ChatGPT, have been deployed on websites and social media platforms, providing customers with quick assistance, personalized recommendations, and a human-like interaction that has transformed customer experience immensely, leading to higher retention rates and repeat business.
With initiatives such as GigaChat, Russian businesses could enjoy more customer engagement and responsiveness, leading to increased profitability and better customer satisfaction.
