MTS bought 7.5% of the developer of spoken artificial intelligence technologies

MTS bought 7.5% of the developer of spoken artificial intelligence technologies

MTS has announced the acquisition of 7.5% stake in Just AI Limited (Just AI Limited), which is engaged in research and development of technologies of spoken artificial intelligence, for 187.7 million rubles. yet
15% of the developer was acquired by Sovcombank, the total market valuation of the company reaches $ 40 million. Under the agreement, MTS and the bank will receive observer seats on the board of directors.

According to the company, MTS is testing a voice assistant and intends to continue to develop products in this area. In cooperation with Just AI the operator plans to hold joint
research into smart speakers and other conversational interfaces; and consider integrating Just AI’s expertise into MTS services.

Just AI has been specializing in artificial intelligence (AI) technology, machine learning and natural language understanding since 2011. The main area of ​​activity is platform development
semantic analysis of natural language using artificial intelligence, creation of services of omnicanal interaction with users on the basis of conversational AI, automation
contact center processes and customer support. The company uses MegaFon, Yandex, MTS, HeadHunter, Renaissance Insurance, Papa Jones and others.

In 2017, MTS created an artificial intelligence center whose main focus is to create innovative products and complement existing company services with new
features based on natural language processing, computer vision and speech recognition technologies. The key activity of the center is the development of virtual ones

In November 2019, MTS, together with Oschadbank, Yandex, Group, Gazprom Neft and the Russian Direct Investment Fund (RFID), created an artificial intelligence alliance to be engaged
development of II-technologies in Russia.

To develop language-based solutions, MTS has also opened a research center in Skolkovo. The center’s experts intend to create the largest voice database in Russian,
having collected and marked over 15,000 hours of Russian language.

Investments, Russian IT companies


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