Daiwa’s ChatGPT is Popular with Staff, Plans to Increase Tech Hiring

Daiwa Securities Group Inc., the second-largest brokerage in Japan, has allowed its 9,000 workers to freely use ChatGPT, a chatbot powered by artificial intelligence. The move comes as Daiwa increases the recruitment of science graduates with knowledge of high-tech and data science capabilities. Chief Executive Officer Seiji Nakata stated that the chatbot has the potential to streamline Daiwa’s retail business, helping salespeople identify financial products tailored to individual clients, and traders to execute orders more efficiently for corporate customers. The move reflects a growing interest in AI within Japan, with SoftBank, Mitsubishi UFJ Financial Group and Prime Minister Fumio Kishida exploring chatbot technology’s potential impact. Additionally, Deutsche Bank AG is using it to scan wealthy client portfolios, and JPMorgan Chase & Co has advertised for more AI roles than any of its rivals. The CEO assures Daiwa’s employees that they will be moved into other areas of business should AI replace some work, stating “We humans are the ones using the chatbot, not the other way around.”