Press Release on the "Development of a New High-precision AI-based Translation Engine As part of the “International Financial Center Initiatives,” the JFSA has decided to strengthen its capability for communicating in English and further enhance the sophistication of its financial sector policy. To this end, the JFSA has commissioned the research to the NICT under the "Commissioned Research on the Construction of a New AI-based Translation Engine Specialized for the Financial Sector."
Specialized for the Financial Sector"
On March 11, the JFSA and the NICT published a joint press release about the new translation engine as attached.
■The JFSA and the NICT have developed a new high-precision AI-based translation engine that can translate documents in the financial sector between Japanese and English.
■The JFSA has collected a large quantity of bilingual documents from a variety of stakeholders, which contributed to improving the percentage of the highest-quality translations from 20% to 50%, and which reached the level of professional translators specialized in the financial sector.
■Improving translation accuracy in highly specialized financial fields is expected to contribute to strengthening Japan’s roles as an international financial center.
■On March 1, 2022, the NICT commenced technology transfer of its new engine to private enterprises. Since the new engine delivers a practical solution, it will be popular and widely used, which will enhance bilingual communication in Japan’s financial sector.
- Press release at the NICT website: https://www.nict.go.jp/en/press/2022/03/23-1.html
- The full report on the "Commissioned Research on the Construction of a New AI-based Translation Engine Specialized for the Financial Sector" (Japanese Only)（PDF: 2.6MB）
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