Mizuho Securities is using AI and voice recognition technology from Nomura Research Institute (NRI) to help monitor and analyse communications between its sales reps and investors.
Mizuho rolled out the technology last month following a proof-of-concept to help it track the communications for compliance purposes and to help with customer care.
NRI’s system converts phone conversations into text with voice recognition technology and then analyses this with AI, which can extract the "essence" to be monitored.
The firm says that the proof-of-concept found a significant reduction in monitoring time, and Mizuho decided to implement the system officially.
NRI has also worked with Mizuho Bank to test the use of AI to eliminate lengthy and complex derivative contract procedures.