SMBC and Fujitsu partner towards creation of AI-powered data analytics business
Sumitomo Mitsui Banking Corporation and Fujitsu announced a partnership to explore the creation of a data analytics business, designed to empower customers with enhanced decision-making and operational efficiency.
The partnership comes after a joint project team formed by the two companies in 2024 conducted a survey of customer needs and discovered that various industries, including manufacturing, wholesale, and retail, want to move away from decision-making based on individual experience and promote data-driven operations to improve efficiency, and enhance management decision-making.
To meet these needs, the two companies will combine their expertise and technologies to create a data analytics business focused on solving customer challenges.
These efforts come against the backdrop of Japan’s aging population and declining birthrate which is leading to labor shortages and increased personnel costs, as well continuing corporate awareness of the importance of sustainability efforts, including efforts to reduce CO2 emissions by optimizing inventory management and minimizing waste in manufacturing.
Overview
The following initiatives will be pursued through the companies’ agreement.
- Planning and consideration of data analysis solutions to enhance management decision-making of customers
- Development of joint marketing activities for customers
- Demonstration experiments and service provision combining the assets and solutions of both companies
SMBC's industry knowledge and data science analysis expertise will be combined with Fujitsu's AI demand forecasting to enhance management decision-making, and support the optimization of customers' product ordering volumes, personnel allocation, and logistics planning.
Fujitsu's AI demand forecasting incorporates the Fujitsu patented Dynamic Ensemble Model technology which automatically tunes and optimally combines multiple demand forecasting models. Compared to selecting a single forecasting model, this approach enables more accurate learning that captures the characteristics of each forecasting target, which changes due to various factors such as demand cycles, external influences, and trends. This results in stable and highly accurate demand forecasting, enabling rapid response to market needs and supporting corporate management decisions.
Future plans
SMBC has positioned the creation of social value as one of the pillars of its medium-term management plan, Plan for Fulfilled Growth. To date, SMBC has supported customers' data-driven decision-making through customized data analysis solutions that leverage advanced data science and financial engineering knowledge to address industry-specific challenges and diverse needs. Through business co-creation with Fujitsu, SMBC aims to provide new financial and non-financial solutions that support data-driven management decision-making.
Fujitsu's AI demand forecasting enables the enhancement of product demand and inventory management, contributing to the reduction of waste and improvement of operational efficiency. Under the business model Fujitsu Uvance, which aims to resolve societal challenges, Fujitsu will advance the transformation of complex management in a rapidly changing world by realizing advanced customer decision-making through Digital Shifts which promotes data-driven management initiatives in an agile manner.
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