Sberbank partners with Microsoft in robotics area

Maria Nikolova

The project is set to boost labor productivity when counting coins.

Sberbank Rossii PAO (MCX:SBER) and Microsoft Research (MSR) have announced a joint project that will explore the use of Microsoft AI solutions in robotics. The goal of this project is to train robots to interact with physical objects the way humans do.

Research engineers from Sberbank will be working alongside their MSR counterparts in Redmond, the United States. The team will be looking for the best ways to control manipulators leveraging the capabilities of Microsoft’s AI platform, which unites machine learning – including reinforcement learning – and simulation modeling in virtual reality in order to create autonomous AI systems capable of operating in real world. The project relies on Sberbank’s robotics lab findings regarding precise manipulation of objects that have different and changing shapes by using computer vision and deep learning.

The project is expected to result in an updated control system to operate the robotics unit that is intended to boost labor productivity when counting coins. Featuring a manipulator, video cameras, and an arm grabber, the solution is poised to remove toil and improve occupational safety of the operators who remove coin bags from carts when working at cash handling and cash-in-transit centers, thus improving the bank’s efficiency.

The findings of the joint study are expected to be later used in writing academic papers on the practical use of artificial intelligence.

Sberbank has long been known as a keen adopter of AI solutions. In February this year, for instance, the bank announced the launch of an AI-based chatbot that will help users of electronic trading system Sberbank Markets.

Speaking of robotic solutions that assist in money counting, let’s recall that, in May 2017, Sberbank showed a “Kuka Hand” – a robotic hand used to sort and count money.

Read this next

Digital Assets

Crypto lender Nexo investigated by 8 US state regulators

State securities regulators in New York, California, Kentucky, Maryland, Oklahoma, South Carolina, Washington and Vermont are investigating crypto lender Nexo for allegedly failing to register its Earn Interest Product.

Metaverse Gaming NFT

Astar Network’s ad features 329 top brands to support Web3 in Japan

Blockchain innovation hub Astar Network is making strides in promoting the Web3 adoption worldwide. In yet another milestone, the smart contracts platform has run a national newspaper ad in Japan that set a new global record with participation from 329 blue-chip firms.

Digital Assets

Pyth Network welcomes onchain data from crypto market maker Auros

“By sharing our high-frequency trading data with a truly onchain decentralized network, we aim to foster innovation that will lead to better financial solutions for all participants.”

Digital Assets

Tokeny integrates Ownera to boost liquidity of tokenized assets

“The adoption of FinP2P will result in higher liquidity and better access to capital and assets by providing regulated firms with one secure point of connection to multiple digital asset networks across the globe.”

Digital Assets

BingX launches subsidy vouchers to cover user losses in copy trading

“With the introduction of copy trade subsidy vouchers, new users can easily try out trading strategies without incurring losses.”

Digital Assets

Talos expands sales team: Frank van Zegveld, Matt Houston, Hillary Conley

“The extensive leadership and industry expertise of these new hires will enable us to build long-lasting relationships as we continue to build out our global presence in EMEA and beyond.”

Executive Moves

FX and CFD broker Emporium Capital hires industry veteran Robert Woolfe as COO

His past experience within the FX and CFD industry includes top roles at Capital Index, London Capital Group, GKFX, ETX Capital, and IG.  “I’m delighted to be part of the Emporium Capital team and spearheading the brokerages global expansion plans”, he said about the appointment.

Retail FX

Hantec Markets wins six categories at Global Retail Forex Awards 2022

Hantec Markets has recently rebranded with a new website and a renewed growth strategy that features the #TimeToStrike hashtag to signify a time of renewed growth for the broker.

Industry News

Nexo sued for operating crypto brokerage without license and lying about it

“Nexo violated the law and investors’ trust by falsely claiming that it is a licensed and registered platform. Nexo must stop its unlawful operations and take necessary action to protect its investors.”