TOKYO: Japanese megabank groups are preparing to start full-scale use of interactive artificial intelligence tools in in-house operations to improve productivity.

Sumitomo Mitsui Financial Group Inc. on Tuesday announced a plan to carry out a demonstration test for such a tool until September.

Mitsubishi UFJ Financial Group Inc. aims to introduce an interactive AI tool within this year. Mizuho Financial Group Inc. is also considering a similar move.

Sumitomo Mitsui has teamed with Microsoft Japan Co. to launch an AI assistant tool fully tailored for the group.

The bank holding company hopes to make the tool available for use in creating business planning materials and information materials for clients by September after deciding rules on its use through the demonstration test.

Mitsubishi UFJ will create by summer an environment that accommodates an interactive AI tool in its internal networks, planning to utilize it to support work to create documents for internal procedures.

The company hopes to use the tool eventually for programming to improve its system development efficiency.

In Europe and elsewhere, some countries have banned AI chatbot ChatGPT, developed by U.S. startup Open AI, citing data privacy concerns.

“We’ll use our planned AI tool in an environment restricted only to the group. Information will not be taken outside,” a Sumitomo Mitsui official said.

The industry will consider how to expand the use of AI tools carefully as it confirms the accuracy of information they provide and their safety, industry people said.

JIJI Press