Daiwa to Start Using AI Chatbot Spurned by Wall Street Banks

Daiwa Securities Group Inc. has joined other major Japanese financial firms in embracing artificial intelligence-powered chatbots, moving in the opposite direction from Wall Street banks.

Japan’s second-biggest brokerage plans to adopt the ChatGPT technology from this month for all of its 9,000 domestic employees, the company said in a statement Tuesday, adding that it has “limitless potential.”

Signage for Daiwa Securities Co., a unit of Daiwa Securities Group Inc., displayed on a glass door at one of the company’s branches in Tokyo, Japan, on Monday, April 25, 2022. Daiwa Securities Group is scheduled to release earnings figures on April 27.

Photographer: Kiyoshi Ota/Bloomberg

The development follows a Nikkei report that Mitsubishi UFJ Financial Group Inc. will begin using a chatbot for work such as drafting approval requests and responding to internal inquiries. Sumitomo Mitsui Financial Group Inc. has begun trials on an AI chatbot developed ...