Sberbank harnesses AI capabilities to offer new service for selecting tenders
The new service collects data from trading platforms in real time and, with the help of complex computer algorithms, shows the most appropriate tenders to its users.
Sberbank Rossii PAO (MCX:SBER) has underlined its commitment to developing new solutions using artificial intelligence (AI) by announcing the launch of a new AI-based service.
The service, named Market Pulse, uses AI technology and big data. It collects data from trading platforms in real time and, with the help of complex computer algorithms, shows the most appropriate tenders for the users of the service. In addition, the solution analyses news and important legal events for a company, processes the data and shows only useful information to its users.
To start working with the service, one must simply go through a quick registration process. Based on the received data, the service instantly creates a personal dashboard with quick access to the key information.
Commenting on the rationale behind the product, Anatoly Popov, Senior Vice President and Head of Sberbank’s Corporate Business Block, notes that in 2017, Russia had more than 4 million tenders, both state and corporate, with 500,000 of them left unclaimed. The new service aims to help entrepreneurs to navigate this market. The idea is to transform the e-tender market itself, making it more transparent and accessible for the state and business.
The new service is developed by Sberbank’s partner SELDON Group, which specializes in the creation of IT tools.
Konstantin Mikhailenko, Chairman of the Board of Directors of SELDON Group, said that the new service allows users to avoid searching for data. They can instead focus on analysis and forecasting.
The service is accessible to all Sberbank Business Online users in the “All Products” section. At the moment, Sberbank’s marketplace consists of 22 non-financial services created by the bank’s partners and subsidiaries for business development and business process optimisation.
One can learn more about the service at https://sbpulse.ru.
Sberbank is well-known for its AI passion. In October last year, Herman Gref – CEO and Chairman of the Executive Board of Sberbank, was quoted by information agency Interfax as saying that AI accounts for 35% of the decisions related to credits for legal entities. This proportion is set to rise to 70%, Mr Gref has forecast. He mentioned five key areas of the bank’s operations for the implementation of AI. The first and major area is robo-advising, Mr Gref said. The others are big data analysis, cybersecurity, client profile analysis, and automatization of bank operations.
