Sumitomo Mitsui Financial Group has joined forces with Fujitsu and the Japan Research Institute (JRI) to trial the use of AI to scan for bugs in coding and automatically recommend software repairs.
SMFG says that the competitive nature of the digital revolution in finance is pushing banks to roll out new services as quickly as possible, and that this has led to a need for methods that improve software quality quickly.
The firm worked with Fujitsu and JRI to use AI to automatically generate recommended repairs for latent software bugs detected by static analysis tools. In the trial, the tech was applied to software that handles financial transactions.
The AI managed to recommend appropriate repairs for over half of the latent bugs detected, which means that the time required to repair them could be cut by up to 30%.
"Therefore, it i anticipated that the technology will contribute to significant reductions in software development and maintenance time," says SMBC.