RDIF announced the creation of the BRICS Alliance for AI Development

The Russian Direct Investment Fund (RDIF) has announced the creation of the BRICS Alliance for the Development of Artificial Intelligence (AI) (BRICS+AI Alliance). As noted in the press release of the fund received by Izvestia on December 11, the statement was made at the annual AI Journey conference, which brings together recognized international experts in the field of AI technologies.

More than 20 companies from six countries (Russia, Brazil, India, China, Iran and UAE) have announced their desire to join the alliance at the first stage. In total, more than 50 international companies have already supported the creation of the BRICS+AI Alliance. Kirill Dmitriev, CEO of RDIF, presented the idea of forming such a community to Russian President Vladimir Putin on October 18 during the BRICS Business Forum in Moscow.

"The BRICS+AI Alliance will play an important role in coordinating approaches to the development of AI technologies between Russia and the BRICS countries. BRICS members are currently among the world leaders in terms of the share of companies conducting research or implementing AI systems in their operations. In 2023, they accounted for more than 20% of all venture capital investments in AI in the world", - specified in RDIF.

The BRICS+AI Alliance will focus on the development of digital technologies in the public and commercial sectors. More than 40 more companies are expected to join in the coming months, including major corporations, universities, technology, infrastructure, healthcare companies and others.

"The BRICS+AI Alliance is the largest international initiative of RDIF and Russian business in the technology sector in recent years. The development of AI opens up additional opportunities for cooperation between BRICS countries, a meaningful increase in the scale and quality of technological partnership, <...> will allow to work out a common strategy for the development of the segment and attract additional investments in the development of innovative products," Dmitriev said.

Weighted Relationship: BRICS partners will receive this status from January 1

The Russian Foreign Ministry named another country that accepted the invitation to participate in the new format

Earlier, on December 4, the Russian president said at the plenary session of the XV VTB Investment Forum "Russia Calling!" that Russia's BRICS partners generally agreed with the idea of developing an investment platform for the association. Putin also pointed to the need for the development of international business cooperation, increasing mutual capital investments and building new production chains.

Before that, on October 18, the CEO of RDIF said that the organization has already implemented 100 joint investment projects with the BRICS countries, which have invested 1.6 trillion rubles in the Russian economy.

BRICS is an interstate association of countries. The last summit at the level of the heads of its member states was held in Kazan in October 2024.