Japanese companies have been expanding their use of AI to improve efficiency, and investment in the technology is a key part of Prime Minister Sanae Takaichi’s policy programme. In the banking sector, institutions are seeking to pursue AI initiatives in ways that minimise significant workforce reductions as they face labour shortages.
(Feb 27): Mizuho Financial Group Inc is planning to replace about 5,000 administrative jobs in Japan with artificial intelligence (AI) over the next 10 years, as the country’s third-largest lender tries to boost productivity.
“We are planning to enhance our earnings capabilities by shifting human resources to our focus areas by fully utilising AI,” Mizuho said in a statement. “It is not a headcount reduction.”
