Nomura has signed a strategic collaboration agreement with OpenAI to focus on advancing asset management.
Under the collaboration, Nomura will implement OpenAI Deep Research and utilise its strategic and technical support for developing and deploying new services for clients.
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The Japanese financial services group aims to continuously improve these technologies and explore new use cases.
Nomura will integrate its in-house data with the latest external datasets and information to deliver differentiated, value-added investment advice, data solutions and market analysis to clients.
Nomura Holdings president and Group CEO Kentaro Okuda said: “Generative AI has the power to do more than boost efficiency. It can fundamentally transform financial services.
“Through our strategic collaboration with OpenAI, we will combine Nomura’s extensive data assets and deep expertise with state-of-the-art AI to deliver more advanced investment advice and market analysis.
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By GlobalData“By doing so, we will provide clients with more accessible and secure services, while also creating new revenue opportunities beyond traditional business models.”
According to Nomura, recent generative AI advances have expedited the extraction as well as practical use of insights from vast datasets.
The company aims to combine its strengths with generative AI to boost productivity and design and implement solutions for the diverse challenges facing global capital markets and society.
OpenAI Japan president and CEO Tadao Nagasaki said: “At OpenAI, our mission is to deliver safe, advanced AI technologies and help organisations unlock their value across a wide range of fields.
“This collaboration offers a significant opportunity to introduce cutting-edge AI and open up new possibilities, from developing innovative services to strengthening operational capabilities.”
In June this year, Nomura decided to close its office in China’s Zhejiang province, one of the company’s four branches in China, by the end of the year.
The firm is scaling back its wealth management operations in mainland China after years of financial losses.
