Nomura Research Institute to launch its new AI solution Shingan in Japan
NRI has already conducted POC studies with Shingan at trust banks who typically handle a vast volume of documents in different formats.
Nomura Research Institute Ltd (TYO:4307) is pushing further into the development and implementation of artificial intelligence (AI) technologies. NRI has announced it will begin providing its new AI solution, Shingan in Japan.
Shingan’s main aim is to enable users to automatically extract Japanese data from multiple documents in different formats and relay it to a succeeding system. The solution was developed as a part of NRI’s Intelligent Process Automation (IPA) initiatives, aiming to upgrade and streamline operational processes with digital technologies.
In order to mitigate labor shortage and promote work-style reform, Japanese companies are increasingly using digital technologies to improve operational efficiency. RPA alone, however, has limited capabilities including an inability to handle either exceptions or information not in a compatible data format.
In line with the meaning of the word “Shingan” (“shin” means real and “gan” means eyes), the new solution identifies and extracts accurate information with precision by combining Japanese language processing technology and machine and deep learning. The combined technologies make it possible to format non-standardized data that may be processed by extracting proper nouns from natural language. With Shingan, users can allocate labor on more sophisticated tasks, and therefore a company can produce more value-added services.
NRI has already conducted proof of concept (POC) studies with Shingan at trust banks who usually handle a vast volume of documents in different formats. With Nomura Asset Management Co., Ltd., NRI tested the consistency of extracted sentences from investment reports. The extraction of data and connection to a succeeding system was examined with NRI Process Innovation, Ltd. The results from the PoCs will be used to improve the capability of Shingan in the future.
NRI plans to implement Shingan within 20 clients over the course of next 3 years.
Document analysis is one of the areas where AI solutions are used quite often. In September last year, for example, Japan’s Aeon Bank, a part of Aeon Financial Service Co Ltd (TYO:8570), announced that it will conduct an experiment to test how (and whether) a solution based on artificial intelligence technology will change the quality and efficiency of its interaction with customers. The experiment, using KIBIT, an AI-based engine developed by FRONTEO Inc (TYO:2158), focuses on how AI will help analyze data from documents obtained during the interaction with customers.