DMM FX joins list of brokerages offering AI-based chatbot

Maria Nikolova

The AI technology behind the new service is based on IBM Watson.

Retail Forex broker DMM FX, part of Japanese Internet services provider, has announced the launch of a chat service using artificial intelligence (AI). The technology behind the new service is based on IBM Watson, the company explains.

The AI chat accepts enquiries via PCs and smartphones. The chatbot is capable of learning from the information obtained during the conversations. Thus, it becomes more clever and the quality of the responses is improved. Moreover, the chat is available all the time, without any breaks. Existing customers, as well as those willing to learn more about DMM FX’s services are welcome to use the new service.

Of course, in case the clients are dissatisfied with the chatbot, they can also contact a human representative of the company.

This is not the first time that, the parent of DMM FX, ventures into AI services. In March this year, announced a partnership with Waseda University in the area of AI research. and Waseda Research Institute for Science and Engineering have jointly opened a research lab that will be engaged in the research and development of various AI-based technologies using processes like machine learning, deep learning, and quantum annealing. In particular, the lab will aim to apply the new technologies to real-life areas. The focus will be on recommendations, illegal transaction detection, financial transactions, quality assurance (QA), image recognition, and so on. Work with big data will be crucial.

Other Japanese online trading companies have also started offering AI-based chatbots to their clients. In January this year, for instance, Japanese retail FX broker Monex Inc, a part of Monex Group, Inc. (TYO:8698), took steps to enhance its customer-facing operations by introducing an AI-based chatbot. The solution was initially made available on Monex’s website sections dedicated to tax returns and annual transaction reports.

A more recent example is provided by Rakuten Securities, a subsidiary of Rakuten Inc (TYO:4755). Less than a week ago, the broker announced the launch of AI-based chat dedicated to individual-type defined contribution pension plans (iDeCo). The new service will be available to users of the LINE messaging app. The AI chat will automatically respond to general enquiries about iDeCo.

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