Japanese bank Mizuho has made Microsoft’s OpenAI platform available to its 45,000 workers.
As reported by Bloomberg, the technology will be used to accelerate the bank’s digital transformation and to inspire more tech-focused development from its staff.
According to Toshitake Ushiwatari, general manager of the bank’s digital planning department, the move is akin to “poking a beehive”, such is the excitement among employees to referring to the excitement among employees keen to submit their ideas for consideration. “They believe it will reshape the globe, sparking disruptive innovation,” he added.
The move comes at a time when other banks globally, and especially in the US, are placing restrictions on generative AI platforms, such as Chat GPT.
For example, Citigroup, Goldman Sachs and JP Morgan have all banned employees from using the technology for bank business.
Japan’s privacy watchdog, the Personal Information Protection Commission, has also issued a warning to OpenAI about the use of customer data, while the recent G7 meeting in Japan featured a debate on regulating this nascent technology market.
In contrast to the Wall Street banks, Mizuho has been a keen user of generative AI, as have other Japanese banks, including Daiwa Securities Group and Mitsubishi UFJ Financial Group.
Earlier this month, Mizuho announced a trial with Fujitsu’s generative AI technology in order to streamline the maintenance and development of its systems.