When Japanese financial company Mitsubishi UFJ Trust Bank sells financial products to the elderly, it introduces a system that does not recommend products with principal losses.
The Nihon Keizai Shimbun said on Sunday that the company plans to introduce the new system on a trial basis to select stores this month in order to provide financial products suitable for customers while preventing improper operation of trust banks. If there is a problem with cognitive function, the company plans not to sell products with principal loss. When recommending financial products to senior citizens aged 70 or older at the store, the app takes pictures of faces with an app developed by IBM Japan and estimates cognitive function through a Q&A process for about 10 minutes. The app developed by IBM in cooperation with Nintendo University in Japan, which has been analyzing cases of dementia, determines cognitive function by AI based on facial expression change, voice fluctuation and speaking speed.
Mitsubishi UFJ Trust Bank proposes products that carry the risk of principal loss, such as stock-type investment trusts, for the elderly who have good cognitive function estimation results by AI, but recommends regular deposits for the elderly who do not.
EJ SONG
US ASIA JOURNAL
