Tech SoftBank and OpenAI launch joint venture

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SoftBank is committing $3 billion annually to integrate and utilize OpenAI's technology across its businesses. The two companies also partner in a joint venture to market this AI as an enterprise solution. SoftBank CEO Masayoshi Son believes this initiative will transform SoftBank's operations and how businesses worldwide function. The advanced enterprise AI, dubbed Cristal intelligence, will be implemented across the SoftBank Group, including Arm, Line, and PayPay, to boost productivity and innovation. For example, SoftBank's telecom division aims to automate over 100 million workflows.

SoftBank CEO Masayoshi Son (right) and OpenAI CEO Sam Altman (photo credit: Reuters)​

It is a 50-50 joint venture between OpenAI and an intermediary holding company funded by SoftBank Group and SoftBank Corp. SoftBank Group will pay 450 billion yen ($2.9 billion) a year to OpenAI for the use of Cristal Intelligence. SB OpenAI Japan will deploy 1,000 personnel to conduct sales activities and introduce the service to domestic companies. Under the plan, SB OpenAI Japan will create an AI model for each client company to incorporate internal data and provide "AI agents" that will work in place of humans in customer service and sales activities. SoftBank Group and OpenAI have agreed to first introduce Cristal Intelligence to companies under SoftBank Group.

SoftBank forms joint venture with OpenAI in enterprise play

SoftBank and OpenAI said that the joint venture will help large Japanese enterprises in the adoption and training of Cristal intelligence in order to improve their businesses.

www.japantimes.co.jp

SoftBank sets up joint venture with OpenAI for Japan companies | The Asahi Shimbun: Breaking News, Japan News and Analysis