Mitsui & Co., Ltd. ("Mitsui", Head office: Tokyo, President and CEO: Tatsuo Yasunaga), in partnership with Sony Network Communications, Inc. ("Sony Network Communications") established "Global AI Innovations Laboratory Co., Ltd." ("GAILABO") in October 2019, which will offer an SaaS AI credit/collection scoring system.
As economies emerge in Asia and Latin America, demand for consumer loans to purchase motorcycles, passenger vehicles, and consumer goods is increasing amid economic growth and rising personal income. Financial institutions, on the other hand, face challenges in areas such as reducing both credit risk and recovery costs.
Leveraging Mitsui's know-how in credit management in overseas markets and Sony Network Communications' AI technology, GAILABO will develop and provide its own original credit/collection scoring system. Initially, GAILABO will begin providing services to financial institutions in Indonesia and Chile, where Mitsui already has a business base in consumer lending, and will aim to expand into other emerging markets and Japan in the future.
Mitsui will continue to create new business models and services around the world by leveraging its business base and know-how in the mobility and ICT fields both within Japan and overseas.
|Company name||Global AI Innovations Laboratory Co., Ltd.|
|Paid-in capital||300 million yen|
|Investment ratio||Mitsui & Co.: 60.0%
Sony Network Communications: 40.0%
|Headquarters||1-1-3 Marunouchi, Chiyoda, Tokyo|
|Business activities||Development, sales and operation of AI solutions|
|Established||October 1, 2019|