Sep 22, 2023 12:32 JST

Source: Fujitsu Ltd

Fujitsu and Hokuhoku Financial Group launch trials for generative AI to streamline operations for Hokuriku Bank and Hokkaido Bank

Fujitsu together with the Hokuriku Bank, Ltd. (Hokuriku Bank)(1) and the Hokkaido Bank, Ltd. (Hokkaido Bank)(2), two subsidiaries of the Hokuhoku Financial Group, Inc. (Hokuhoku Financial Group) today announced details around joint trials to explore the use of generative AI for banking operations.

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”(3), in the banking operations of Hokuriku Bank and Hokkaido Bank to respond to internal inquiries, generate and check various business documents, and create programs.

Through their joint project, Fujitsu, Hokuriku Bank and Hokkaido Bank aim to identify promising use cases for efficient and accurate utilization of generative AI in banking 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 generative AI 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/offeringsIn-house explanation about corporate customers’ financing/support in the creation process and proofreading of approval documentsCreation of programs and test data, detection of bugs in programs and suggestions on error correctionOutline of the joint trials

1. Period: August 2023 to October 2023 (planned)

2. Technological details: AI core engine for conversational AI, provided by Fujitsu via the “Fujitsu Kozuchi (code name) - Fujitsu AI Platform”

3. Contents of the trials: Application of Fujitsu’s AI core engine for generative AI to the banking operations of the Hokuriku Bank and Hokkaido Bank to understand the characteristics of generative AI, identify use cases, and verify the effectiveness of generative AI

4. Schedule following the trialsBased on the results of the trials, the Hokuriku Bank and Hokkaido Bank will determine concrete usage scenarios with the aim of applying generative AI technology to its actual business operations.

[1]The Hokuriku Bank, Ltd. :Headquarters: Toyama Prefecture, Toyama, Japan; President: Hiroshi Nakazawa[2]The Hokkaido Bank, Ltd. :Headquarters: Hokkaido, Sapporo, Japan; President: Yuji Kanema[3]Fujitsu Kozuchi (code name) - Fujitsu AI Platform :Fujitsu’s AI platform that delivers access to a range of powerful AI and ML technologies to commercial users globally. Fujitsu’s platform provides leading-edge AI innovation components and AI core engines, easing the path to applying AI in business operations by enabling faster verification of different potential AI solutions by customers.Related LinksFujitsu Kozuchi (code name) Fujitsu AI PlatformAbout Fujitsu

Fujitsu’s purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, our 124,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: Computing, Networks, AI, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.7 trillion yen (US$28 billion) for the fiscal year ended March 31, 2023 and remains the top digital services company in Japan by market share. Find out more: www.fujitsu.com.

About Hokuhoku Financial Group, Inc.

Hokuhoku Financial Group is composed of the holding company and 12 consolidated subsidiaries and one affiliate. Our core business is banking, and we also provide a wider range of financial services including leases, credit cards, loan guarantees and venture capital. Hokuriku Bank and Hokkaido Bank underwent management integration in September 2004 to form the Hokuhoku Financial Group Inc., which today operates a super-regional financial network that encompasses the Hokuriku region, Hokkaido, and Japan's three major metropolitan areas (Tokyo, Osaka, and Nagoya areas).

Press Contacts:
Fujitsu Limited
Public and Investor Relations Division
Inquiries - https://bit.ly/3rrQ4mB

Source: Fujitsu Ltd
Sectors: Banking & Insurance, Artificial Intel [AI]

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

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