Japan AI Supercycle: Demographics, Corporate Culture & the Pursuit of Profits

Japan and AI are a match made in heaven: the super intelligent machines are a welcome cushion against the declining labor force; and in many ways, AI adoption is the natural next phase of “Kaizen”, gradual improvement of internal processes and productivity. Moreover, a society grown up on Astro Boy and Gundam intuitively understands AI more as human complementary Augmented Intelligence than a threat to humanity. Chances are high that Japan becomes a global leader of AI adoption.

But then there is the Fax Machine reality: though techno-pragmatic in spirit, Japan Inc is famous for stubborn resistance to actually change proud internal processes: 27.0% of Japanese companies report having no corporate strategy for AI driven business transformation, compared with just 1.4% in the United States, 4.9% in Germany, and 2.6% in China. Is the real obstacle organizational decision-making, technology infrastructure, procurement, or talent? What does it take for Japan to become a global AI leader?

Our panel features a diverse group of practitioners spanning AI and technology, venture capital, consulting, and global business. Matt McDevitt, Founder and CEO of Shinogi AI, has led large-scale AI deployments in Japan; Shiho Watabe, Partner at GHOVC, has extensive cross-border startup experience; Paul McInerney, General Partner at Incubate Fund, has worked across venture capital, consulting, and digital transformation in Japan; and Ting Cai, Group Senior Managing Executive Officer and Chief AI & Data Officer at Rakuten Group.

Join moderator Jesper Koll for a discussion of what is holding Japan’s AI transformation back and what it will take to move from adoption to deployment. Who will go first: a megabank, a manufacturer, or the government? And what might an end-to-end Japanese enterprise AI deployment look like?

Event and Registration Details

November 4, 2026, 8:00 – 9:15 a.m. (JST)

• This event will be conducted in-person and online, and registration is required.
• In-person participation is for members and guests only. Please pay your fee by credit card (Visa or Mastercard only) or at the door.
• Online participation is open to the public and is free.

Speaker Bios

Matt McDevitt — Founder and CEO of Shinogi AI K.K.

Matt McDevitt is Founder and CEO of Shinogi AI K.K., a Tokyo-based applied AI company that designs, builds and deploys advanced AI systems to deliver material value for organizations. The name comes from 鎬 (shinogi, the ridge line of a forged blade, where structural strength meets the cutting edge).

Prior to Shinogi AI, Matt spent eight years at McKinsey & Company as a Partner and founded QuantumBlack Japan, McKinsey’s AI arm. Before that he spent eight years with Think Big Analytics, a Silicon Valley big-data professional services organization, scaling it across the United States, Europe and Japan through its 2014 acquisition by Teradata.

He has lived in Japan for nearly a decade, leading large-scale analytics and AI deployments for pharmaceutical, medical device, automotive, private equity and consumer goods clients. He holds a BA in International Relations from Stanford University, where he minored in Symbolic Systems, and also studied at Doshisha University in Kyoto.

Shiho Watabe — Partner, GHOVC

Shiho has built a career across finance and technology, starting as an IBD Analyst at Morgan Stanley before spending nearly ten years at Google in marketing roles spanning APAC, EMEA, MENA, and Global HQ. She went on to lead growth and marketing initiatives at Mercari US through its 2018 IPO and served as Global VP of Growth & Marketing at ELSA Speak (Google-backed AI startup in Silicon Valley). Later, she led Shibuya Startups KK as CEO and Chair.

She currently serves as a Partner at Japan-US crossover VC firm, GHOVC, as well as an advisor to a Silicon Valley deeptech venture fund and Adjunct Professor at Musashi University (Entrepreneurship, Marketing-led business building).

Across her career, Shiho has actively advised 70+ startups in robotics, the creator economy, and consumer-facing sectors. In addition, she has operated her own consultancy since 2019 as an Advisor & GTM Marketing partner, guiding 20+ cross-border startups and venture funds across Asia and the US.

Personal Background: Raised in Harajuku and grew up between Shibuya, Ashiya (Kobe), and Hawaii.

Paul McInerney — General Partner, Incubate Fund

Paul joined Recruit Co., Ltd. in 1997 and co-led digital business building and corporate venture capital investing efforts. While at Recruit, Paul was also a founding member of Golfport (an online golf reservation site) – subsequently sold to Rakuten in 2002.

He joined McKinsey & Company’s Tokyo Office in 2002, was elected Partner in 2007 and Senior Partner in 2014. He supported clients in the retail, consumer products, media, telecommunications, finance, and pharmaceutical industries with growth strategy, digital and AI, branding, marketing, and M&A.

He has served as head of the Asia Pacific Marketing & Sales Group, head of the Asia Pacific Analytics Group, head of the Asia Pacific Consumer Goods & Small Business Group, and Managing Partner of QuantumBlack Japan.

Paul joined Incubate Fund as a General Partner in March 2021.

Paul has authored articles in the Harvard Business Review, Nikkei Business, Toyo Keizai and speaks regularly at industry events. Paul grew up in Australia and has been a resident of Japan for the past 30 years. He is a co-founder of UWC ISAK Japan.

Ting Cai — Group Senior Managing Executive Officer, Group CAIDO, Rakuten Group, Inc.

Ting Cai serves as the Chief AI & Data Officer at Rakuten Group, where he leads the company's AI and Data vision and strategy. In this role, he overseas research, engineering, product and service teams, aligning innovations with tangible business impact. Ting has spearheaded Rakuten’s technology foundation in deep learning and large language models, catalyzing the deployment of large-scale AI services across search, recommendation, advertising, conversation and agentic experiences for Rakuten's customers.

Before joining Rakuten, Ting served as a Senior Director at Google, overseeing the Local Search product strategy and development. Prior to that, he held various senior leadership roles at Microsoft in Bing and Commerce, including serving as General Manager for News & Feeds. He holds a master's degree in computer science from Dartmouth College and an MBA from the University of Washington.

Jesper Koll — Moderator

Jesper Koll has been researching and investing in Japan since becoming a resident in 1986. Over the past two decades, Jesper has been consistently recognized as one of the top Japan strategists/economists, having worked as Chief Strategist and Head of Research for U.S. investment banks J.P. Morgan and Merrill Lynch. He currently serves as Expert Director for the Monex Group and the Japan Catalyst Fund (Japan’s 1st retail investor based corporate engagement/activist fund). His analysis and insights have earned him a position on several Japanese government and corporate advisory committees, including Tokyo Governor Yuriko Koike’s Advisory Board. Jesper serves as Board Director of OIST, the Okinawa Institute for Science and Technology and is a Founder and Board Director of the Asia Society Japan and heads their Policy Committee. He is one of the few non-Japanese members of the Keizai Doyukai, the Japan Association of Corporate Executives; and serves on the board of several Japan-based start-ups. He has written three books in Japanese and, in 2021, created the acclaimed video/pod-cast series Japan - Capitalism that works. Jesper is an economist, angel-investor, patron; and yes, a Japan Optimist.