Japan-based Mitsubishi UFJ Financial Group (MUFG) has decided to establish a dedicated artificial intelligence (AI) unit within its Japan Digital Design subsidiary.
The new unit, MUFG AI Studio (M-AIS), will research and develop AI models for use by the group’s various business units.
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The Tokyo-based firm, which has been developing AI services while maintaining the individual resources within each group company and department, said that the M-AIS will focus on these assets, combining them with resources from outside MUFG Group.
The bank plans to re-allocate employees and funding from within internal MUFJ units.
Additionally, the banking group plans to bring experts from external partners including the University of Tokyo and ExWizards, among others.
In a statement, MUFG said: “M-AIS will utilise both internal and external human resources who are not bound by current financial industry styles of working and ways of thinking for the development and analysis of AI models.”
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By GlobalDataThe new unit will offer a dedicated space for AI model development and on cloud computing services offered by Amazon Web Services Japan, a research space that allows trial and error of different approaches in the constantly advancing field of AI research.
