Russians show support in a survey for transitioning to a digital equivalent of the national currency, the digital ruble.
In a recent survey conducted among 1500 Russians aged 18 to 65 in cities with a population of over 100,000, several insights into the public's attitudes towards digital currency and artificial intelligence (AI) in personal finance have emerged.
The survey revealed that an absolute majority of respondents (63%) oppose the idea of payment chips for transactions. However, more than a quarter of young Russians aged 18 to 24 are willing to transfer money to the digital ruble if cashback is applied. This suggests a growing interest in digital currency among the younger generation.
The mass introduction of the digital ruble in Russia will begin in 2026, but the specifics of its adoption are still under discussion. The survey also showed that residents of Moscow and million-cities show a higher interest in this.
When it comes to AI, Russians are generally ready to introduce AI-based technologies into their personal finance. The most promising method of identification and confirmation of operations in future banks, according to 25% of respondents, is by gaze. Voice recognition is named as a likely and convenient method of identification by 12% of respondents, while DNA decoding is favoured by 21%. However, 22% of respondents are not ready to rely on a digital assistant.
Concerns about AI's opacity, possible bias, misuse, and data privacy are recognized internationally, contributing to public wariness. While there is a global push towards developing trustworthy and transparent AI in finance to increase public trust, concrete data on how Russian consumers specifically trust AI assistants for managing personal finances is not currently available. However, AI's demonstrated capabilities in investment recommendations and budgeting could encourage trust where users feel confident in the AI’s decision-making processes and data handling.
Interestingly, the majority of respondents want to use AI capabilities for routine financial tasks, but men are more willing to do family budget control than women. Moreover, 44% of respondents trust an AI assistant with timely payment of utilities, taxes, and other mandatory payments.
VTB, one of Russia's largest banks, has already completed the setup of the technological infrastructure for implementing payments in digital rubles and is testing various scenarios for its use. The survey also highlighted the importance of traditional bank offices where people can speak to a live person, as 46% of Russians are willing to transfer money to the digital ruble under certain conditions.
In conclusion, while the Russian public is cautious about the introduction of digital currency and AI in their personal finance, there is a growing interest in these technologies. The key to widespread adoption lies in ensuring transparency, ethical standards, and protection against misuse, issues that are actively being addressed in international forums.
In the realm of business and finance, the survey discovered a growing interest among the younger generation in digital currency, as more than a quarter of young Russians aged 18 to 24 are open to transferring money to the digital ruble if cashback is applied.
When it comes to AI, the survey revealed that Russians are generally ready to incorporate AI-based technologies into their personal finance, with 25% of respondents favoring gaze as the most promising method of identification and confirmation of operations in future banks.
