SMBC Value Creation and AVITA Announce Exciting Avatar Collaboration

Introduction

In a significant move to elevate productivity in Japan's small and medium enterprises (SMEs), SMBC Value Creation, a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC), has partnered with AVITA Corporation. This collaboration will leverage avatar technology to create innovative solutions aimed at enhancing operational efficiency.

Background

Japan is currently facing a pressing issue of labor shortages exacerbated by a declining population. SMEs are particularly affected, as they struggle with the challenges of increasing operational efficiency and productivity. Traditional methods of implementing necessary reforms often face hurdles such as high costs and prolonged tool integration periods, leaving many businesses stagnant in their growth.

In response to these challenges, SMBC Group, led by its President and Group CEO Tatsuya Nakajima, signed a basic agreement with AVITA in September 2023 to explore collaborations involving avatars and generative AI technologies. The two companies, alongside external partners, conducted multiple pilot tests to assess the advantages of integrating avatar technology with AI. Results indicated that this combination could significantly enhance user convenience while also promoting business efficiency and diversifying employee work styles.

Joint Business Overview

The collaboration aims to blend AVITA's innovative avatar-based services, such as "AVACOM", an avatar service focused on customer engagement, and "Abatore", a role-playing support service, with SMBC Value Creation's advanced RPA and generative AI technologies. This integration will provide a comprehensive suite of services to a diverse range of clients within the SMBC Group. Furthermore, SMBC Value Creation will bolster its productivity enhancement support by launching a new licensing business for RPA tools.

Moving forward, the partnership intends to utilize AVITA's cutting-edge technology alongside SMBC Value Creation’s consulting expertise to co-develop solutions that improve productivity across various sectors, including customer service and back-office operations.

The ultimate goal of this joint business initiative is to drive productivity improvements among Japanese companies while fostering a warm DX environment that leverages avatar and AI technologies. This vision aims to create a society where diverse workers can thrive and work uniquely, enriching connections between people and communities.

Company Profiles

AVITA Corporation

- CEO: Hiroshi Ishiguro
- Business Focus: Development of services utilizing avatars and generative AI; includes the avatar service "AVACOM" and role-play support service "Abatore". Additionally involved in avatar production and marketing support.

SMBC Value Creation

- CEO: Yuta Kurimoto
- Business Focus: Design, implementation, and operation of productivity-enhancing measures using advanced technology; also engages in software license sales.

Sumitomo Mitsui Financial Group

- CEO: Tatsuya Nakajima
- Business Focus: Management of banking and other subsidiary companies as well as associated operations.

Sumitomo Mitsui Banking Corporation

- CEO: Akihiro Fukudome
- Business Focus: Banking operations focusing on creating convenience for users and strengthening regional ecosystems.

Conclusion

Through their partnership, SMBC Value Creation and AVITA not only aim to enhance productivity in the Japanese market, but also to promote an inclusive and dynamic working environment that harnesses the power of technology. Their efforts mark an important step towards crafting innovative solutions that could redefine the future of work in Japan.