VTB urged to switch to open data for the development of AI services

The transition to the Open Data model will increase the personalization of products and services based on artificial intelligence. This was stated by Olga Skorobogatova, First Deputy President and Chairman of the VTB Management Board, at the SOC Forum.

"What will radically change artificial intelligence is the blurring of boundaries. To do this, in addition to artificial intelligence tools and models, we need data. My colleagues and I, including those from the insurance sector, are constantly discussing what we want to move from Open Finance via API to Open Data. In order to use AI in the most personalized way possible for a person or a legal entity, we as a country need to move very quickly to the Open Data model, because if it doesn't exist, we will live in separate compartments," Skorobogatova said.

She explained that the transition from the Open Finance model to Open Data will allow AI agents and digital assistants to comprehensively use information from financial and non-financial organizations, as well as companies from the telecom and retail sectors. According to the forecast of VTB's top manager, the market may start implementing pilot projects as early as 2027.

Skorobogatova also highlighted three key tasks that the financial sector will have to solve in the coming year. We are talking about defining mechanisms for managing and controlling AI, ensuring the safety of using new technologies, as well as assessing the economic impact of their implementation.

"If we talk about the financial sector, then the main challenge for banks and ecosystems that are built in the financial system is to understand how, by implementing various tools and models of artificial intelligence, to ensure one hundred percent trust and security of citizens in terms of their funds," the first deputy chairman emphasized. In her opinion, for this, a new environment should be created within the banking ecosystem, which would guarantee the safety of using AI-based products and services.