Japanese brokerage Daiwa Securities Co. has taken the lead among major financial institutions in the country in adopting artificial intelligence chatbot ChatGPT to help its employees work more efficiently.
Daiwa Securities began using ChatGPT, which it has described as having "immense potential," from Wednesday, with an eye to streamlining day-to-day tasks including information gathering in English.
The firm also said it hopes to see a reduction in costs and time for preparing outsourcing tasks such as creating documents, leaving employees more time for assignments such as crafting business plans.
"We prioritized using advanced technology to streamline work efficiency and increase the time to interact with customers," said Susumu Yamamura, a spokesman for Daiwa Securities.
Among the major Japanese banks, Mitsubishi UFJ Financial Group Inc. plans to install ChatGPT this summer. Sumitomo Mitsui Financial Group Inc. has said it has started trial use of the technology, while Mizuho Financial Group Inc. has begun considering the use of such services.
In contrast, financial institutions in the United States and Europe are cautious about using ChatGPT due to privacy concerns.
Major U.S. banks, such as JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc., have reportedly allowed limited usage of ChatGPT by their employees. In late March, the Italian government banned ChatGPT in the country.
To address such fears, Daiwa Securities said it uses Microsoft Corp.'s technology to prevent information leaks to outsiders by creating a closed and secure environment.
