What are ChatBots?
Artificial intelligence (AI) chatbots are becoming more and more popular in various industries, especially in the banking sector. They can provide fast and accurate answers to customers’ queries, improve work efficiency of employees, and enhance marketing strategies. However, they also pose some challenges, such as information security and data protection. In this article, we will explore how some Japanese companies are working to optimize the use of AI chatbots, such as ChatGPT, while minimizing the risks.
1- What is ChatGPT?
ChatGPT is a conversational AI tool that can generate natural and fluent responses by learning from large amounts of data. It was developed by OpenAI, a U.S.-based research organization. ChatGPT can be used for various purposes, such as customer service, entertainment, education, and more. However, it also has some drawbacks, such as generating inappropriate or misleading responses, or leaking sensitive information.
2- AI regulations & Data Safety (SMBC-GPT)
To address these issues, some Japanese companies have developed their own AI chatbots that are tailored to their specific needs and goals. For example, Sumitomo Mitsui Financial Group Inc. (SMFG) launched SMBC-GPT, a conversational AI tool that is designed to help its employees with their daily tasks. SMBC-GPT can assist them with searching for bank rules and regulations, creating proposal documents for corporate clients, and obtaining approval from their supervisors. SMBC-GPT uses Microsoft Japan Co.’s cloud service, which ensures security and data protection. SMFG also limits the access and usage of SMBC-GPT to its headquarters and subsidiaries, and prohibits the use of external AI tools, such as ChatGPT.
By using SMBC-GPT, SMFG aims to improve its work efficiency and quality, as well as to reduce human errors and costs. It also hopes to enhance its customer satisfaction and loyalty by providing more personalized and customized services. SMFG is not the only company that is leveraging AI chatbots in the banking industry. Many other banks and financial institutions in Japan are also adopting or experimenting with AI chatbots for various purposes, such as customer support, product recommendation, fraud detection, and more.
3-AI ChatBots & Banking Industry in Japan
AI chatbots are transforming the banking industry in Japan by offering new opportunities and benefits for both customers and employees. However, they also require careful management and regulation to ensure their safety and reliability. As AI chatbots become more advanced and widespread, it is important for companies to balance their innovation and risk management.
