BBVA is embarking on a three-year collaboration with the University of Navarra to tackle the ethical, technical, and regulatory challenges associated with artificial intelligence.
The initiative, known as the ‘Fair Learning’ project, will bring together a diverse team from both institutions to investigate advanced mathematical and statistical techniques to address data bias. The project aims to incorporate philosophical and ethical considerations into the development of AI models while establishing best practices aligned with international legislation.
Josep Amorós, the project coordinator and senior manager of Analytics Transformation at BBVA, emphasizes the groundbreaking nature of this initiative within the financial sector. He highlights BBVA’s dedication to technological advancement while maintaining a focus on human-centric values.
Amorós notes that the challenges posed by AI are not solely technical; they also encompass social implications that necessitate ethical reflection, oversight, and institutional commitment to resolve complex issues from technological, philosophical, and legal perspectives.
Over the next three years, a team of twenty experts—comprising BBVA data scientists and academics from the University of Navarra with backgrounds in engineering, philosophy, medicine, law, and economics—will collaborate to develop a framework for identifying, mitigating, and correcting bias in AI systems. This effort will ensure privacy, fairness, and individual autonomy while outlining best practices in accordance with existing laws and regulations.
Amorós states, “AI is already a central element of the bank’s transformation and is set to become even more significant in the future. Therefore, we must ensure its development is guided by principles of fairness, responsibility, and transparency.”