Russia’s sovereign fund bets on AI as inflation expected to rise amid global downturn – The National

Russia’s sovereign fund bets on AI as inflation expected to rise amid global downturn – The National

Exclusive: The sovereign wealth fund's chief is bullish on infrastructure and cash generating assets that offer protection against inflation





























Kirill Dmitriev, chief executive officer of Russian Direct Investment Fund, plans on beefing up investment in artificial intelligence and technology alongside the fund's strategic partners. Bloomberg











The Russian Direct Investment Fund (RDIF) plans to invest in artificial intelligence and widen partnerships as it expects inflation to rise after central banks and governments rolled out trillions of dollars in stimulus packages and monetary easing measures to offset the impact of Covid-19.



"There is a risk of high inflation for sure given all of the money that has been printed,“ Kirill Dmitriev, the chief executive of the sovereign fund said in an interview with The National. "You see it in the US stock market, where it is basically [at the same level as] before Covid, even though Covid definitely has a very negative and significant impact on the economy. So, we do expect high inflation in the world going forward.“



Two third of governments around the world have topped up their fiscal support to offset