SoftBank announces entry into AI race: creating a "Japanese version of ChatGPT"

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May 11,The announcement that SoftBank Corp., the telecom subsidiary of SoftBank Group, has joined the AI race to develop ChatGPT-like tools drove a group of AI-related Japanese companies to jump in the stock market on Thursday, Bloomberg reported.

SoftBank CEO Junichi Miyagawa said at Wednesday's earnings meeting that the unit set up a new entity in March and chose about 1,000 people to develop a Japanese version of OpenAI Corp.'s artificial intelligence chat technology, without elaborating on the project's goals or progress so far.

SoftBank Group founder and billionaire Masayoshi Son, who has been touting artificial intelligence as a revolutionary force that will change the way we use technology for years, recently assembled a group of engineers and also discussed the possibility of ChatGPT.

Japanese Prime Minister Fumio Kishida on Thursday ordered the creation of a new artificial intelligence panel to study the economic potential of the technology and how to address its risks. He added that as chairman of the Group of Seven democracies, he will seek to play a leading role in international rulemaking around AI, with the G-7 summit set for May 19 in Hiroshima.

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