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 utilize its support for developing new services. The Japanese financial services group aims to continuously improve technologies and explore new use cases.

Nomura will integrate its data with external datasets to deliver investment advice, data solutions, and market analysis. President Kentaro Okuda believes generative AI can transform financial services. The collaboration with OpenAI will combine data assets and expertise to provide advanced services and create new revenue opportunities.

Recent generative AI advances have expedited the extraction of insights from vast datasets. Nomura plans to combine its strengths with generative AI to boost productivity and design solutions for global challenges. OpenAI Japan president Tadao Nagasaki sees the collaboration as an opportunity to introduce cutting-edge AI and strengthen operational capabilities.

In June, Nomura decided to close its office in China’s Zhejiang province, scaling back wealth management operations in mainland China. The firm is shutting down the office due to financial losses. “Nomura, OpenAI partner on asset management” was originally published by Private Banker International.

Read more at Yahoo Finance: Nomura, OpenAI partner on asset management