Japanese bank Mizuho has made Microsoft’s OpenAI platform accessible to its 45,000 employees.
As reported by Bloomberg, this technology will help accelerate the bank’s digital transformation and encourage staff to engage more in tech-focused development. Toshitake Ushiwatari, general manager of the bank’s digital planning department, described the excitement among employees as “poking a beehive,” as they are eager to propose their ideas for consideration. He noted that they believe it will lead to global changes and spark disruptive innovation.
This decision comes at a time when many banks worldwide, particularly in the U.S., are imposing restrictions on generative AI platforms such as ChatGPT. For instance, Citigroup, Goldman Sachs, and JP Morgan have all prohibited employees from using such technologies for bank-related tasks.
Japan’s privacy regulator, the Personal Information Protection Commission, has also expressed concerns to OpenAI regarding the handling of customer data. Additionally, the recent G7 meeting in Japan included discussions on regulating this emerging technology sector.
In contrast to many Wall Street banks, Mizuho has actively embraced generative AI, alongside other Japanese financial institutions like Daiwa Securities Group and Mitsubishi UFJ Financial Group. Earlier this month, Mizuho announced a trial collaboration with Fujitsu’s generative AI technology, aiming to enhance the maintenance and development of its systems.