Daiwa Securities Group has joined other major Japanese financial firms in embracing artificial intelligence-powered chatbots, moving in the opposite direction from Wall Street banks. Japan's second-biggest brokerage plans to adopt the ChatGPT technology from this month for all of its 9,000 domestic employees, the company said in a statement Tuesday, adding that it has "limitless potential." The development follows a Nikkei report that Mitsubishi UFJ Financial Group will begin using a chatbot for work such as drafting approval requests and responding to internal inquiries. Sumitomo Mitsui Financial Group has begun trials on an AI chatbot developed in partnership with Microsoft Japan, the newspaper said, while Mizuho Financial Group also plans an AI tool for internal use. This could be due to a conflict with your ad-blocking or security software.

Bank of America Corp., Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc. and Wells Fargo & Co. are among lenders that have recently banned usage of the new tool, with Bank of America telling employees that ChatGPT and openAI are prohibited from business use, according to people with knowledge

Financial firms are putting more resources towards using complex forms of machine learning. And that means they'll also need to develop ways to better understand the tech and explain it both internally and to regulators. A recent survey by data giant Refinitiv on the use of artificial intelligence and machine learning in financial services found that 75% of respondents were using some form of deep learning, a type of ML that includes a series of complex, ever-evolving calculations. Those surveyed included data scientists, quants, and executives at a variety of financial firms. Geoffrey Horrell, head of Refinitiv Labs in London, told Business Insider that the surge of interest in deep learning means firms will need to invest resources in understanding these complex algorithms.