SMBC and Fujitsu Join Forces to Offer AI-Powered Forecasting Services

SMBC and Fujitsu Forge Strategic Partnership

Sumitomo Mitsui Banking Corporation (SMBC) and Fujitsu have announced a groundbreaking partnership to develop AI-powered data analytics and forecasting services. This collaboration aims to address the growing demand for data-driven decision-making across various industries, including manufacturing, wholesale, and retail 1

1

.

Meeting Industry Needs

The partnership was formed after a joint project team, established in 2024, conducted a comprehensive survey of customer needs. The survey revealed a strong desire among businesses to move away from decision-making based on individual experience and towards more data-driven operations. This shift is expected to improve efficiency and enhance management decision-making processes 1

1

.

Combining Expertise

The collaboration leverages the strengths of both companies:

1. SMBC contributes its extensive industry knowledge and data science analysis expertise.
2. Fujitsu brings its advanced AI demand forecasting capabilities to the table 1

   1

   .

Together, they aim to provide solutions that will significantly boost management decision-making and support the optimization of various business operations.

AI-Driven Forecasting Services

At the heart of this partnership is the utilization of Fujitsu's artificial intelligence models to enhance SMBC's advisory services. The bank is considering providing corporate client data to Fujitsu, which will be processed through multimodal machine learning tools to generate business forecasts 2

2

.

These AI-inferred demand predictions are expected to assist SMBC's largest customers in making critical decisions across various aspects of their operations, including:

1. Staffing
2. Procurement
3. Capital spending
4. Financing 2

   2

   3

   3

Addressing Corporate Challenges

This initiative comes at a crucial time for Japanese businesses, which are grappling with several challenges:

1. Labor shortages in a rapidly aging society
2. High materials prices due to a depressed yen 2

   2

The AI-powered forecasting services aim to help companies navigate these challenges more effectively by providing data-driven insights for strategic decision-making.

A Milestone in Data Sharing

The collaboration marks a significant development in the Japanese banking sector, as it represents a rare instance of a bank allowing another company access to sensitive customer data. This includes detailed information such as store-by-store visitor numbers and sales figures 2

2

.

Fujitsu's Strategic Shift

For Fujitsu, this partnership aligns with its long-term strategy of expanding into the AI and consulting sectors. The company has been undergoing a multi-year transformation, moving away from hardware:

1. Sold its chip packaging subsidiary, Shinko Electric Industries
2. Divested its stake in air-conditioning unit Fujitsu General 2

   2

This collaboration with SMBC serves as a validation of Fujitsu's forecasting model, which is central to its ambitions in the AI and consulting arenas.

Next Steps

While representatives from both SMBC and Fujitsu have declined to comment officially, sources familiar with the matter indicate that the two companies are on the verge of signing a basic agreement to formalize their partnership 2

2

3

3

. This move is expected to set a new standard for AI-driven financial services in Japan and potentially influence similar collaborations globally.