With this latest agreement, BBVA is once again ahead of the curve when it comes to embracing disruptive technologies that will impact the financial industry. Notably, it is the first European bank to forge an alliance with OpenAI, which will share its knowledge and unlock the full potential of the new tool at the bank.
In the past two years, BBVA added 7,187 professionals in the data and technology field to its workforce - a figure it plans to increase in 2024 with 2,700 new hires. Of this amount, 1,225 will take place in Spain for the banks headquarters in Madrid, Bilbao and Barcelona. Technology talent has become a key aspect of the Groups digital strategy.
BBVA has already begun deploying 3,000 ChatGPT Enterprise licenses among Group employees in a bid to increase productivity and process efficiency, while stimulating innovation across the Group. The enterprise version of ChatGPT delivers the utmost security and privacy, combined with its unique ability to generate content or answer complex business questions, among numerous other features.
OpenAI has also agreed to deliver training and provide the latest updates for its large language models (LLMs), the technology on which ChatGPT is built. By working in close partnership with OpenAI, BBVA will drive forward the most successful use cases for the banks business and processes.
Data and technology are the key levers of transformation at BBVA, which for over a decade has been running specific development centers for advanced analytics and artificial intelligence, now known as AI Factories, in Spain, Mexico and Trkiye. In addition to these teams, there are also analysts and data specialists working across all the business areas, giving a total of more than 5,000 employees, of whom 1,000 or so are data scientists. The entire team works to unlock the value of data and AI with a view to improving business decision-making and helping create various kinds of products, such as solutions to improve the financial health of customers or aid them in their climate transition.
The recent agreement with OpenAI is a further example of BBVAs ongoing commitment to generative AI as a key differentiating aspect in the value proposition it offers its customers. New artificial intelligence tools are going to have a disruptive impact on society as a whole and on the financial industry in particular. At BBVA, we want to further promote our role as pioneers when it comes to innovating in financial services and we are therefore firmly committed to exploring the potential of this technology. We believe that generative AI, when used safely and responsibly, is a game-changer in how we support our customers in their decisions and offer personalized services. It also happens to stimulate creativity among our employees, explains Ricardo Martn Manjn, Global Head of Data at BBVA.
OpenAI COO Brad Lightcap added: "Were excited to partner with BBVA, one of Europe's top banks, to deliver the capabilities of ChatGPT Enterprise at scale. AI streamlines mundane tasks, boosting creativity, efficiency, and productivity.
The bank is already handing out licenses at its central services in Spain, and this process will continue in the Groups other main countries. Compulsory training will be delivered for each account set up. The aim is for all areas and departments to have access to ChatGPT, so that licensed employees can collaborate with their colleagues in undertaking various projects. In tandem, BBVA will be collecting feedback and suggestions from these users through a multi-country community, with the aim of flagging the most outstanding use cases and sharing best practices.
We see this first foray into the use of ChatGPT Enterprise as an opportunity to validate the extent to which these tools can genuinely boost our productivity, thus transforming the way we all work within the bank, explains Elena Alfaro, the new Head of AI Adoption at BBVA, whose role is to mainstream this technology across the Group. We are aiming to enhance the capabilities of our employees, not to replace them, she says.
Alfaro also remarks that while ChatGPT Enterprise is certainly a major strategic commitment, it will not be the only solution to be used within the organization. BBVA is continuing to evaluate other tools that may prove viable for the more than 100 use cases to be rolled out over the course of 2024.
View original post here:
BBVA steps up its plans in artificial intelligence by signing an agreement with OpenAI - BBVA
- Use of Artificial Intelligence in the Prediction of Chiari Malformation Type 1 Recurrence After Posterior Fossa ... - Cureus - May 23rd, 2024 [May 23rd, 2024]
- Fritz Lang First Depicted Artificial Intelligence on Film in Metropolis (1927), and It Frightened People Even Then - Open Culture - May 23rd, 2024 [May 23rd, 2024]
- Dehumanizing the Wars: Introduction of Artificial Intelligence in the Warfare - Modern Diplomacy - May 23rd, 2024 [May 23rd, 2024]
- Google Parent Alphabet Is Selling Shares of 2 Hypergrowth Stocks and Piling Into a Promising Artificial Intelligence (AI ... - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- Meta AI Head: ChatGPT Will Never Reach Human Intelligence - PYMNTS.com - May 23rd, 2024 [May 23rd, 2024]
- Waiting for Alexa: When Will Amazon Strike Up the AI Conversation? - PYMNTS.com - May 23rd, 2024 [May 23rd, 2024]
- Artificial intelligence town halls? House committee weighs new approach before writing AI rules - Washington Times - May 23rd, 2024 [May 23rd, 2024]
- Inventing AI: Tracing the diffusion of artificial intelligence with U.S. patents - United States Patent and Trademark Office - May 23rd, 2024 [May 23rd, 2024]
- UM6P to Host High-Level Forum on Artificial Intelligence, Development in Africa - Morocco World News - May 23rd, 2024 [May 23rd, 2024]
- DHS warns of threats to election posed by artificial intelligence - ABC News - May 23rd, 2024 [May 23rd, 2024]
- Artificial intelligence, great wealth transfer: Why this financial analyst sees a rosy time ahead for stocks - CNBC - May 23rd, 2024 [May 23rd, 2024]
- As S&P 500 reaches fresh highs, experts say generative artificial intelligence will create new investment opportunities - CNBC - May 23rd, 2024 [May 23rd, 2024]
- Google Parent Alphabet Is Selling Shares of 2 Hypergrowth Stocks and Piling Into a Promising Artificial Intelligence (AI ... - MSN - May 23rd, 2024 [May 23rd, 2024]
- The Best Artificial Intelligence (AI) ETF to Invest $1,000 in Right Now - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- How To Land A Job In Artificial Intelligence (AI) - Forbes - May 23rd, 2024 [May 23rd, 2024]
- Madhumita Murgia On The Good, Bad And Ugly Of Artificial Intelligence In Our Daily Lives - Forbes India - May 23rd, 2024 [May 23rd, 2024]
- Researchers use artificial intelligence to classify brain tumors - Voice of America - VOA News - May 23rd, 2024 [May 23rd, 2024]
- 2 Artificial Intelligence (AI) Stocks You Can Buy and Hold for the Next Decade - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- Study including WVU and Marshall analyzes cyber threats to Artificial Intelligence systems - West Virginia MetroNews - May 23rd, 2024 [May 23rd, 2024]
- Stock-Split Watch: 5 Artificial Intelligence (AI) Stocks That Look Ready to Split - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- 2 Spectacular ETFs That Can Help You Capitalize on the Artificial Intelligence (AI) Boom - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- NASA pledging responsible use of artificial intelligence | National | khq.com - KHQ Right Now - May 23rd, 2024 [May 23rd, 2024]
- 1 Stock Down 11% to Buy Before Artificial Intelligence (AI) Could Supercharge Its Growth and Send It Soaring - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- Alphabet Goes All In on Artificial Intelligence (AI). Is It Time to Go All In on the Stock? - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- A Once-in-a-Generation Investment Opportunity: Here's 1 Artificial Intelligence (AI) Stock to Buy in May and Hold Forever - Yahoo Finance - May 23rd, 2024 [May 23rd, 2024]
- 2 Artificial Intelligence (AI) Stocks That Offer Dividends and Long-Term Returns - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- Forget Nvidia: Billionaires Are Selling It and Buying These 2 Supercharged Artificial Intelligence (AI) Growth Stocks ... - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- 1 Ridiculously Undervalued Artificial Intelligence (AI) Stock to Buy Hand Over Fist - Yahoo Finance - May 23rd, 2024 [May 23rd, 2024]
- Missed Out on Nvidia's Ginormous Gains? Here's an Artificial Intelligence (AI) Stock You Can Buy Right Now. - The Motley Fool - May 23rd, 2024 [May 23rd, 2024]
- Researchers create innovative verification techniques to increase security in artificial intelligence and image processing - European Research Council - April 29th, 2024 [April 29th, 2024]
- Who in Europe is investing the most in artificial intelligence? - Euronews - April 29th, 2024 [April 29th, 2024]
- 4 Artificial Intelligence (AI) Stocks Members of Congress Can't Stop Buying (and Nvidia Isn't 1 of Them!) - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- The Standard Names Porter Orr Second Vice President of Artificial Intelligence Strategy and Development - NRToday.com - April 29th, 2024 [April 29th, 2024]
- Meet Nvidia CEO Jensen Huang, the man behind the $2 trillion company powering today's artificial intelligence - CBS News - April 29th, 2024 [April 29th, 2024]
- This Warren Buffett Dividend King Stock Just Invested $1.1 Billion Into Artificial Intelligence (AI) - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- Joe Rogan Reveals What Could Be 'Game Over for the Human Race' - Newsweek - April 29th, 2024 [April 29th, 2024]
- LegalTech Artificial Intelligence Market to Soar to $6.4 Billion by 2028: Global Long-term Forecast to 2033 - Strategic ... - Yahoo Finance UK - April 29th, 2024 [April 29th, 2024]
- Artificial Intelligence Tokens Stumble Again! Is The AI Hype Over? - Coinpedia Fintech News - April 29th, 2024 [April 29th, 2024]
- CISA unveils guidelines for AI and critical infrastructure - FedScoop - April 29th, 2024 [April 29th, 2024]
- IBM's Webinar: Cybersecurity In The Era Of Artificial Intelligence Keynotes - AiThority - April 29th, 2024 [April 29th, 2024]
- Being and becoming a good doctor in the age of artificial intelligence - Firstpost - April 29th, 2024 [April 29th, 2024]
- Pope to take part in G7 summit in June to talk Artificial Intelligence - Crux Now - April 29th, 2024 [April 29th, 2024]
- Pope Francis to attend G7 summit to speak on artificial intelligence - Catholic News Agency - April 29th, 2024 [April 29th, 2024]
- 1 Unstoppable Artificial Intelligence (AI) Stock to Buy and Hold Forever - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- Pope to bring his call for ethical artificial intelligence to G7 summit in June in southern Italy - The Associated Press - April 29th, 2024 [April 29th, 2024]
- Elon Musk Called Tesla an Artificial Intelligence (AI) Robotics Company. Does That Make It a Buy? - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- Emulating neurodegeneration and aging in artificial intelligence systems - Tech Xplore - April 29th, 2024 [April 29th, 2024]
- Pope Francis to participate in G7 session on AI - Vatican News - English - April 29th, 2024 [April 29th, 2024]
- A Once-in-a-Generation Investment Opportunity: 1 Bill Ackman Artificial Intelligence (AI) Stock to Buy Hand Over Fist ... - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- Tesla Stock Investors Cheer Progress on Its Artificial Intelligence (AI) Future - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- In Race to Build A.I., Tech Plans a Big Plumbing Upgrade - The New York Times - April 29th, 2024 [April 29th, 2024]
- A Baltimore-area teacher is accused of using AI to make his boss appear racist - NPR - April 29th, 2024 [April 29th, 2024]
- 3 Top Artificial Intelligence (AI) Stocks That Billionaires Jim Simons, Ray Dalio, and Israel Englander Are Buying - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- The iPad Pro can give us a big surprise with its artificial intelligence chips. - Softonic EN - April 29th, 2024 [April 29th, 2024]
- This Artificial Intelligence (AI) Stock Could Soar 70%, According to Wall Street. Time to Buy? - Yahoo Finance - April 29th, 2024 [April 29th, 2024]
- Billionaire Bill Ackman Owns 8 Stocks -- and This Hypergrowth Artificial Intelligence (AI) Stock Isn't One of Them - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- Artificial Intelligence Has Come for Our...Beauty Pageants? - Glamour - April 29th, 2024 [April 29th, 2024]
- 3 Stocks to Grab Now to Ride the Artificial Intelligence Chip Boom to Riches - InvestorPlace - April 29th, 2024 [April 29th, 2024]
- Is ASML's Big Sell-off a Warning Sign to Artificial Intelligence (AI) Investors? - The Motley Fool - April 29th, 2024 [April 29th, 2024]
- 3 Artificial Intelligence (AI) Stocks to Buy With $1,150 and Hold for Decades - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- This combines the power of artificial intelligence with human insights - finews.com - March 22nd, 2024 [March 22nd, 2024]
- Cohere Targets $5 Billion Valuation for ChatGPT Rival - PYMNTS.com - March 22nd, 2024 [March 22nd, 2024]
- IMF: Artificial Intelligence (AI) Will Transform 40% of Jobs. Can Investors Capitalize? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- Cathie Wood Is Selling These 2 Artificial Intelligence (AI) Stocks. Should You? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) Shares Acquired by Creative Financial ... - Defense World - March 22nd, 2024 [March 22nd, 2024]
- Inaugural Plenary Meeting of States Endorsing the Political Declaration on Responsible Military Use of Artificial ... - Department of State - March 22nd, 2024 [March 22nd, 2024]
- AMD Fell Today -- Is This a Chance to Buy the Artificial Intelligence (AI) Stock? - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- Artificial Intelligence (AI) Stocks Are Red-Hot, but Here's 1 to Avoid (for Now) - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- A Once-in-a-Generation Investment Opportunity: 1 Artificial Intelligence (AI) Growth Stock to Buy and Hold Forever - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- 2 Artificial Intelligence (AI) Stocks That Could Go Parabolic - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Artificial intelligence will radically improve health care, but only if managed carefully - The Hill - March 22nd, 2024 [March 22nd, 2024]
- Tennessee Makes A.I. an Outlaw to Protect Its Country Music and More - The New York Times - March 22nd, 2024 [March 22nd, 2024]
- When Using Artificial Intelligence In Pharma R&D, Start With Identifying Problem To Solve - HBW Insight - March 22nd, 2024 [March 22nd, 2024]
- Why Super Micro Computer, Advanced Micro Devices, and Other Artificial Intelligence (AI) Stocks Tumbled on Tuesday - Yahoo Finance - March 22nd, 2024 [March 22nd, 2024]
- 3 Billionaires Are Selling Artificial Intelligence (AI) Stock Nvidia and Buying These 10 AI Stocks Instead - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Nvidia Just Bought 5 Artificial Intelligence (AI) Stocks. These 2 Stand Out the Most. - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- UN adopts first global artificial intelligence resolution - ARMENPRESS - March 22nd, 2024 [March 22nd, 2024]
- This New Artificial Intelligence (AI) Chip Is a Massive Game Changer for Nvidia Stock - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Nvidia Led the First Phase of Artificial Intelligence (AI), but These 2 Growth Stocks Will Lead the Next Phases ... - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]
- Meet Wall Street's Newest Stock-Split Stock, Along With the Artificial Intelligence (AI) Stock Likeliest to Follow in Its ... - The Motley Fool - March 22nd, 2024 [March 22nd, 2024]