Nomura Research Institute to launch its new AI solution Shingan in Japan

Maria Nikolova

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.

Read this next

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

<