CaixaBank forms a GenAI team consisting of over 100 experts
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CaixaBank has formed a multi-disciplinary task force of over 100 experts in various sectors, who will now work together on creating and deploying generative artificial intelligence (AI). The bank intends to use its upcoming AI solution in specific areas of internal and customer-oriented services.
The team will be working out of offices based in Barcelona and Madrid, and it will collaborate with Microsoft and Accenture, according to the bank’s plans. It consists of over 100 individuals, which includes members from a variety of departments and specialties in CaixaBank. Some of the team members also come from the bank’s tech subsidiary, CaixaBank Tech.
Partnership with Microsoft will deliver the most advanced AI models
The collaboration between the team members and Microsoft will ensure that CaixaBank will have access to the same models used to create ChatGPT. Apart from that, it will also be able to use other models, and experiment with them in a secure test environment. Not only that, but Microsoft will be able to offer access to advancements that are still in experimental phase, and as such, are not yet available on the market.
The bank has been working with Microsoft for over a year, after establishing an innovation laboratory for AI solutions and the metaverse in mid-2022.
The partnership will now ensure that CaixaBank will have access to some of the most advanced AI technology. As a result, its product, once completed, will likely be among the most advanced generative AI solutions in the industry.
Among the numerous initiatives that are currently under way, the most promising seems to be streamlining customer service using digital channels and risk analytics. Apart from that, there is also generating code in developments, as well as creating tests, drafting documents for new technological functionalities, and more.
In addition, the bank has also created an entire series of working groups that will develop real use cases for AI — ways of using it for the purpose of bringing important improvements and solutions that will focus on bettering employee experience.
The bank does not have a precise date when it might begin deployment, although it expects that it will start deploying the solution across the entire enterprise throughout 2024.
CaixaBank already uses AI
This will not be its first encounter with AI, however, since it already applied some artificial intelligence solutions to multiple services and projects. They can already be found in foreign trade services, and also in its cognitive assistant.
The assistant service can be used by both employees and customers, such as in the call center, where it can directly communicate with the users. It is even able to identify which customers are older than 65, so that the call is then taken by a trained advisor who can present the bank’s services to senior citizens in a way that will be understandable and approachable to them.
