Sberbanka and Cognitive Technologies to create Cognitive Pilot.

Sberbank, a provider of commercial banking services, and Cognitive Technologies, a Russian software corporation that develops corporate business-applications, AI-based advanced driver assistance systems, are set to create a joint venture Cognitive Pilot. Financial terms were not disclosed. Sberbank is getting a 30% interest in Cognitive Pilot, with 70% of shares to be held by the founders and chief executives at Cognitive Technologies, which will be headed by its founder Olga Uskova. “The world is about to face the mainstream use of unmanned solutions, and we are interested in Sberbank Group, and our entire country is at the forefront of this trend. Cognitive Technologies already has products for transport, agriculture, and automotive industries that are very popular among both Russian and foreign clients. This year, Sberbank has become the ultimate AI developer in Russia, and we are sure that the expertise in unmanned technology will enjoy demand and contribute to the faster development of AI competence in Russia,” Lev Khasis, Sberbank First Deputy Chairman of the Executive Board.