Several Japanese firms are investing in ChatGPT-like technology to increase production and efficiency. One of the most recent reports from Bloomberg says that Daiwa Securities Group Inc. has reportedly started using AI chatbots far more different than its Wall Street bank counterparts.
Starting April 2023, the second-biggest brokerage in Japan will utilize generative AI, which 9,000 domestic workers will use.
Daiwa Adopts ChatGPT Technology Anew
Daiwa is the latest Japanese bank to use AI chatbot tools with ChatGPT-like technology, steering away from its Wall Street counterparts.
Bloomberg writes in its report on Tuesday, April 18, that Daiwa believes in the "limitless potential" of AI chatbots in the industry.
The financial company says that adopting ChatGPT is the "most beneficial" step it made to achieve more productivity. In doing so, Daiwa highlights that generative AI will save time and reduce costs when creating documents.
With the widespread use of ChatGPT and other similar tools, business owners and firms tend to explore more ways to maximize its usage effectively.
For OpenAI CEO Sam Altman, who also spearheaded the creation of ChatGPT, there are a lot of plans to discuss the tool's potential. The co-founder talked with Japanese Prime Minister Fumio Kishida about the AI chatbot earlier this month.
While Japanese banks are open to using AI for their operations, Wall Street banks are against ChatGPT. Some firms that banned the tool include Deutsche Bank AG, Citigroup Inc., Bank of America Corp., Wells Fargo & Co., and Goldman Sachs Group.
Speaking of Goldman Sachs, Tech Times reported that the firm's chief information officer (CIO), Marco Argenti, believed that generative AI would help engineers efficiently test and produce code. This way, writing the lines of code won't be a tedious task anymore as the machine will write them automatically with just a single prompt.
This concept is still being tested since Argenti mentioned that it's unsuitable for mass production.
Related Article: ChatGPT Can Also Create Dark and Twisted Content, One that Centers on Scams, Fake News, and MORE
Japanese Firms Are Embracing AI Chatbots
Aside from Daiwa, Mitsubishi UFJ Financial Group has also adopted generative AI to boost the productivity of employees, per Nikkei Asia's report.
Of course, the company won't compromise the employee's data in exchange for improving its service. In a huge move to avoid data leaks, the financial group has decided to exclude their inputs from the training data for AI.
Sumitomo Mitsui Financial Group is another Japanese firm that developed an AI chatbot with the help of Microsoft Japan. The AI tools will be launched this fall.
Meanwhile, Time. News reports that Mizuho Financial Group also shares plans to bring its own AI tool inside the company. The firm, which also partnered with Microsoft Japan, aims to protect sensitive information through this software.
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