Sberbank takes part in WEF’s 4th Summit


When developing artificial intelligence (AI), risks can be managed if you stick to five basic ethical principles, said Alexander Vedyakhin, First Deputy Chairman of the Executive Board of Sberbank, when speaking at the World Economic Forum’s 4th Sustainable Development Impact Summit 2020.

Fully virtual, the summit convened leaders from government, business, international organizations and civil society along with experts and innovators from around the world.

Alexander Vedyakhin spoke at the session called Empowering generation AI. The session addressed AI development risks, with the main focus on how AI affects the younger generation.

AI opens up new opportunities for humanity, but people are still developing trust in new technology, Alexander Vedyakhin said. Still high on the agenda are AI use risks like:

  • losing control and hurting people and society
  • untraceability and unpredictability of algorithms
  • insufficient sustainability and reliability of decision-making systems, which may lead to adverse consequences for society
  • manipulation of public opinion via AI, including the mounting threat of fake news
  • social, demographic, or racial discrimination against people.

Children are the most vulnerable social strata, which is why top tech leaders should use AI to protect children’s rights and shield them against AI adoption risks while offering more development opportunities for children to enjoy.

To manage the aforementioned risks when governing AI development internationally, stakeholders need to maintain balance between incentives and restrictions. To that end, it’s crucial they reach a universal agreement governing the key and ethical AI development principles, Mr. Vedyakhin believes. According to him, AI algorithms must be:

  • controllable and manageable
  • interpretable and traceable
  • stable and reliable
  • honest
  • unbiased.

First Deputy Chairman of Sberbank’s Executive Board also talked about the National AI Development Strategy through 2030 that Russia adopted in 2019 and covered AI for Good, the bank’s AI initiatives targeting socially-important accomplishments.


Alexander Vedyakhin, First Deputy Chairman of the Executive Board of Sberbank:

“Sber pays much attention to ethical issues in AI use. But the international community needs to join hands to formulate ethical principles in this area and monitor that all participants comply. A common ethical basis to develop AI is called for. Therefore, we think that sustainable and ethical AI development should be discussed regularly and internationally.”


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