Sunday , December 5 2021

Gref: 70% of Sberbank managers replaced with artificial intelligence | 11.10.18


The introduction of artificial intelligence has enabled Sberbank to reduce 70% of mid-level managers involved in routine operations.

This was announced on the annual Sberbank Data Science annual report by the German bank chief.

"The spread of artificial intelligence in the coming years will probably only increase," he added, adding that artificial intelligence in Sberbank "replaces" a man "for a long time".

"We radically reduce people who perform very simple operations, we have such a system within Sberbank, called the Intellectual Management System, within which there is a motor that every day learns when making decisions and recommendations," said Gref.

"And this has led to a huge reduction at the various levels involved in simple solutions: for example, at an average level, we have reduced about 70% of managers – the middle line is most likely to fall," he added.

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Most of the abbreviations, according to Gref, were redone in Sberbank. "These people today are doing a completely different job, which we did not have a task before, and the level of decision-making of these people has increased significantly," Gref said. (citations from TASS).

Since the beginning of the year, Sberbank has reduced more than 14 thousand employees. In the third quarter, 3,302 persons were dismissed and the number of employees dropped to 296,103.

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