Japan is exploring the use of generative AI as Fujitsu, a multinational information and communications tech firm, Hokuriku Bank, Ltd. and Hokkaido Bank, Ltd. launch joint trials to develop the technology in the banking sector.
As part of the trials, the companies will leverage generative AI technology, including an AI module for conversational AI Fujitsu is offering via its “Fujitsu Kozuchi (code name) – AI Platform”. This platform will enable Hokuriku Bank and Hokkaido Bank, both subsidiaries of the Hokuhoku Financial Group, Inc., to respond to internal inquiries. Furthermore, it will also generate and check various business documents, creating programs to help with this process.
The trials have been planned to take place between August 2023 and October 2023. During the trials, the organisations will learn the best application of Fujitsu’s AI core engine for generative AI in Hokuriku Bank and Hokkaido Bank.
As a result of the trials, the banks will have a greater understanding of generative AI’s characteristics. It will also identify specific and effective use cases and verify the effectiveness of generative AI. Consequently, they will determine concrete usage scenarios with the aim of applying generative AI technology to its actual business operations.
Exploring new fintech applications at the frontiers of AI development
Generative AI, a technology that enables the automatic generation of text, images and program code, is gaining increasing attention worldwide. As the tech grows more accurate, the technology offers the potential to improve the efficiency of various business operations and contribute to the generation of new ideas.
The companies anticipate that Fujitsu’s generative AI technology will enable the partners to conduct trials in a fast and agile manner, without the need to set up a specific testing environment. The companies envision a range of practical applications in banking, with possible workplace applications including:
- Generation of responses to internal inquiries related to business rules and inquiries about regulations regarding different products/offerings
- In-house explanation about corporate customers’ financing/support in the creation process and proofreading of approval documents
- Creation of programs and test data, detection of bugs in programs and suggestions on error correction
