Sumitomo Mitsui Financial Group partners with OpenAI
SMBC Group has been actively working on its own digital transformation (DX) and providing digital-based value to customers in pursuit of…
SMBC Group has been actively working on its own digital transformation (DX) and providing digital-based value to customers in pursuit of its medium to long-term vision of becoming a “Global Solution Provider that develops together with customers and society through the highest level of trust.” With this agreement, SMBC Group has become the first major Japanese financial institution to enter into a contract with OpenAI.
The general-purpose AI assistant tool “SMBC-GAI” used within SMBC Group has already begun utilizing the “OpenAI API” since September 2024, and is working to improve the accuracy of “SMBC-GAI” and maximize its effectiveness through OpenAI’s latest models’ stable performance and high capacity.
Moving forward, through the utilization of generative AI, SMBC Group will not only improve the productivity of existing operations but also promote the transformation of its medium to long-term business model through the development of end-to-end digital businesses and products designed with AI in mind, AI implementation in customer touchpoints, and revenue enhancement through the utilization of employees’ tacit knowledge and experience.
Through this contract, SMBC Group will promote transformation in the domestic and global financial industry through the use of innovative services powered by generative AI technology, provide unprecedented value to customers, and further strengthen its position as a global solution provider.
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