Fujitsu has unveiled a partnership with Hokuriku Bank and Hokkaido Bank, which are subsidiaries of the Hokuhoku Financial Group.

While detailing this partnership, Fujitsu said that the involved parties would conduct joint trials exploring the use of generative AI in the banking industry.

Fujitsu Trials Generative AI For Banking Operations

As part of the trials conducted by the involved institutions, the companies will use generative AI technology that includes an AI module for conversational AI offered by Fujitsu through the Fujitsu Kozuchi AI platform.

This AI technology will be adopted in the banking operations of both Hokuriku Bank and Hokkaido Bank. It will be used to handle a wide range of processes, such as internal inquiries. It will also be used to generate and check various business documents while creating programs.

The joint project between Fujitsu, Hokuriku Bank, and Hokkaido Bank will deliver many benefits. It seeks to identify the potential use cases that will enable efficient and accurate adoption of generative AI across the banking industry.

AI technology is rapidly gaining adoption across different industries due to its massive potential. If the trial conducted by the three firms is successful, it could pave the way for AI to be used to meet different banking needs.

Fintech Applications At The Forefront Of AI Development

Generative AI is a technology that supports the automatic generation of texts, images, and program code. This technology is swiftly gaining adoption globally.

Generative AI is evolving and becoming more accurate. It offers the ability to improve the efficiency of business operations while supporting the generation of new ideas that can potentially significantly impact the industry.

Companies are anticipating that the generative AI technology being developed by Fujitsu will allow the partner institutions to conduct trials more quickly and with agility. These trials can be conducted without creating a specific testing environment.

The companies envision that the trial will unlock many practical applications across the banking industry. It will also have possible applications in the workplace.

Some proposed applications include generating responses to internal queries around business rules. It will also handle inquiries about regulations of different products and offerings.

The trial will also include an in-house explanation of the financing and support offered by corporate customers within the creation process while also proofreading approval documents. It also involves creating programs and testing data.