BBVA Teams Up With OpenAI To Implement ChatGPT For Employees
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After leading the way in AI projects and inquiries for years, BBVA now takes a decisive step in integrating generative AI into its main markets. Firstly, it has focused on approximately 100 projects intended for development using different tools of this advanced technology.”
Secondly, it has signed a deal with OpenAI, the developer of ChatGPT, to start using this tool within its workforce.
BBVA Aims To Explore Generative AI To Speed Up Processes
The goal is to explore generative AI responsibly and safely to speed up processes, promote innovation, and boost productivity through its newfound abilities.
With this contract, BBVA is now supporting the adoption of innovative technologies to transform the financial sector, as it is the inaugural European bank to partner with OpenAI. Collaboration with OpenAI will enable knowledge sharing to guarantee optimal tool utilization for the entity.
BBVA is building the foundation “to tackle the significant challenge presented by the adoption of generative AI in financial services.
The Chief Operating Officer of OpenAI, Brad Lightcap, said that the company is happy to collaborate with BBVA, one of the leading banks in Europe, to distribute the benefits of ChatGPT Enterprise on a large scale.
BBVA has started distributing 3,000 ChatGPT Enterprise permits amongst the group’s staff. The intention is to boost efficiency and increase productivity while promoting innovation in the group.
The Collaboration will see OpenAI provide training for BBVA employees. It will also grant access to the most recent updates in its large language models (LLMs), the technology that powers ChatGP. By partnering with OpenAI, BBVA will propel the most thriving applications for the bank’s business and procedures.
The Generative AI Will Ensure The Utmost Level Of Privacy And Security
The business edition of ChatGPT ensures the utmost level of privacy and security, along with the ability to answer intricate business questions or create content, among its various functions.
Technology and Data are the main drivers of BBVA’s evolution. It has maintained particular development hubs for artificial intelligence and advanced analytics for more than ten years, presently termed AI Factories in Turkey, Mexico, and Spain.
Aside from these teams, data specialists and analysts are active in all business areas, totaling over 5,000 employees, with about 1,000 being data scientists.
The whole team strives to utilize the value of AI and data to improve business decision-making and support the creation of many products.
BBVA is an international financial services firm based in Bilbao and Madrid, Spain. It is recognized as one of the leading financial organizations worldwide. The institution primarily operates in Romania, Italy, Turkey, South America, Mexico, Portugal, and Spain.
