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Rakuten plans to launch its own AI model within the next 2 months: CEO

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The logo of Japanese tech giant Rakuten logo seen at Mobile World Congress 2019.

Paco Freire Sopa Images | LightRocket via Getty Images

from japan Rakuten It plans to launch its own artificial intelligence language model within the next two months, its CEO told CNBC in an interview broadcast Monday.

This comes as the fintech-to-e-commerce giant looks to join other technology firms developing fast-growing technology.

Hiroshi “Miki” Mikitani said the company is working on its own large language model, or LLM. These are huge algorithms trained on huge data sets that underpin artificial intelligence applications like OpenAI’s ChatGPT.

According to Mikitani, Rakuten has a variety of businesses ranging from banking to e-commerce and telecommunications, so it has a large amount of “very unique” data to train LLM.

“Nobody has a dataset like ours,” he said.

Mikitani said the company plans to use AI models internally to improve operational efficiency and marketing by 20%.

He wants to offer this model to third-party businesses as well Amazon Or Microsoft to do.

“So we can easily teach them (businesses), package it and provide them with the platform so they can fully utilize it for their business,” Mikitani said.

The CEO said Rakuten is “going to achieve something within a few months.”

To date, major American and Chinese technology giants are launching large language models of their own.

OpenAI, Amazon and Google One of the most notable in America are in China, Baidu, Ali Baba And Tencent has also launched its own models.

Japanese companies have lagged somewhat behind their American and Chinese counterparts. But they are trying to catch up quickly.

Telecommunications group NTT announced this month that its proprietary LLM will be available in March.

SoftBank’s telecommunications arm announced in November that its generative AI computing platform is operational.

Japanese companies have the opportunity to create LLMs specific to the Japanese language, potentially giving them an edge over their American and Chinese competitors.

Mikitani said the emphasis on AI would drive “huge profitable growth” for Rakuten.

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