Mitsubishi UFJ (MUFG.US) Partners with OpenAI to Accelerate AI Adoption in Banking

Stock News11-12

Japan's largest bank, Mitsubishi UFJ (MUFG.US), has announced a collaboration with OpenAI to accelerate the adoption of artificial intelligence (AI) technology across its operations. The partnership will support the launch of a new digital bank set to begin operations in the next fiscal year. Mitsubishi UFJ stated that AI will enhance services such as account opening through intelligent conversational tools. Additionally, the two parties will jointly develop a smart advisory system, enabling users to interact with ChatGPT via mobile applications for household financial planning and asset allocation. Tadashi Yamamoto, head of retail and digital business, revealed that as part of the initiative, Mitsubishi UFJ is actively recruiting experienced professionals and plans to expand its in-house AI team to over 350 employees by the fiscal year ending March 2027. Amid the global wave of AI adoption in banking, financial institutions worldwide are exploring transformation strategies. While the technology improves operational efficiency, it is also reshaping job roles. In Japan, where the financial sector employs hundreds of thousands, discussions on AI's impact on careers continue to intensify.

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