Fujitsu and Hokuhoku Financial will use generative AI technology in the banking operations of the latter’s subsidiaries, Hokuriku Bank and Hokkaido Bank, including the conversational AI module that Fujitsu offers through its Fujitsu Kozuchi AI Platform
Fujitsu, Hokuhoku to test generative AI for banking. (Credit: Kaitlyn Baker on Unsplash)
Japanese information and communications company Fujitsu, together with the subsidiaries of the Hokuhoku Financial Group, is set to test the use of generative AI for banking operations.
Hokuhoku Financial’s subsidiaries include the Hokuriku Bank and the Hokkaido Bank.
As part of the trials, the two companies will use generative AI technology in the banking operations of Hokuriku Bank and Hokkaido Bank.
The partnership will use generative AI technology to generate responses to internal inquiries, generate and check various business documents, and create programs.
The generative AI technology includes the conversational AI module that Fujitsu is offering through its Fujitsu Kozuchi AI Platform.
Fujitsu, Hokuriku Bank and Hokkaido Bank will help identify promising use cases for accurate usage of generative AI in banking operations.
Generative AI is a technology that enables the automatic generation of text, images and program code and is gaining increasing attention worldwide.
The generative AI technology enables the improvement of various business operations and contributes to the generation of new ideas.
Fujitsu’s generative AI technology is expected to help the partners conduct trials in a fast and agile manner, without the need to set up a specific testing environment.
It will address several practical applications in banking, including the generation of responses to internal inquiries related to rules and regulations regarding different products and offerings.
The AI technology will provide in-house explanations about corporate customers’ financing/support in the creation process and proofreading of approval documents.
Furthermore, the technology will help create programs, test data, detect bugs in programs and provide suggestions on error correction, said the Japanese company.
Earlier this year, Fujitsu and Mizuho Financial launched joint verification trials, which use Fujitsu’s generative AI technology to support the development and maintenance operations of Mizuho’s system.