Rakuten is developing its own artificial intelligence model

Japanese technology giant Rakuten has started creating its AI-based language model. The company's CEO Hiroshi "Mickey" Mikitani told CNBC in an interview.

Here's What We Know

Mikitani noted that Rakuten has a unique array of data from different business sectors, from banking to e-commerce. This data will allow it to effectively train its own AI model.

According to the top executive, the new development will primarily be used to optimise internal processes and marketing. It will increase Rakuten's operational efficiency by 20%.

In addition, the model is planned to be provided to other companies on a paid basis. Users will be able to fully integrate it into their business and work processes.

A proprietary language model will give Rakuten a serious competitive advantage over US and Chinese technology companies, especially given its focus on the Japanese language.

Mikitani estimates that the development of AI technology will significantly boost Rakuten's profits in the coming years.

Source: CNBC