Russia Introduces Model of “Smart” and Socially Responsible Banking
A neural network developed by Center-Invest Bank aims to boost financial literacy and promote sustainable banking practices across the country.
Specialists at Center-Invest Bank have created an artificial intelligence model called “Socially Responsible Banking.” Built from a wide base of articles, books, and public lectures by the bank’s employees, the model is designed to spread knowledge about sustainable banking and improve financial literacy through an open-access platform.
The tool is meant for all users seeking to strengthen their financial skills. Experts believe such technologies could significantly reduce costs for banks while easing the workload on staff. They also see potential in applying AI to social services, including elder care and healthcare.
Other Russian banks are already experimenting with similar tools. These services help identify common mistakes in personal finance management, provide answers to frequently asked questions, deliver personalized product suggestions, and even offer advice on managing investment portfolios.
