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Ministry of economic development of the Russian Federation

Mutual interest not money key to Russia-China cooperation in AI, says Vladimir Putin

20.11.2019

Mutual interest - and not money - is the key incentive to Russia-China cooperation in developing artificial intelligence, Russian President Vladimir Putin said at the VTB Capital’s forum Russia Calling in Moscow on Wednesday.

"It’s mutual interest - and not money - that really counts. When a joint platform is created, then funds begin to be used jointly - on those tracks where Russia, with its fundamental knowledge and ability to develop the fundamental components, such as mathematics and everything related with it, has competitive edges. This goes without saying. The same is true of China, when it comes to the potential of certain manufacturing industries," Putin said.

Earlier, the Russian Direct Investment Fund and China Investment Corporation declared creation of a $1 billion Russian-Chinese research and engineering innovation fund to support projects for the development of new technologies in key branches of the economy with special emphasis on commercialization.

Also, the RDIF declared it was attracting $2 billion from its international partners to fund the development of technologies, including artificial intelligence.

Source: TASS



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