Spanish banking institution BBVA is enhancing its artificial intelligence initiatives by partnering with OpenAI to implement ChatGPT for thousands of its employees. As the first European bank to establish such a collaboration, BBVA has commenced the rollout of 3,000 ChatGPT Enterprise licenses aimed at boosting productivity, improving process efficiencies, and fostering innovation within the organization.
In addition, OpenAI will provide ongoing training and updates for its advanced language models that underpin ChatGPT. BBVA anticipates that this close collaboration will help identify and implement the most effective applications of the technology.
The implementation of ChatGPT licenses is already underway at BBVA’s central services in Spain, with plans to extend this initiative to the bank’s key markets. Each new user will undergo mandatory training to ensure seamless access across all departments, enabling licensed employees to work together on various projects.
To further develop in-house talent, BBVA recently hosted a generative AI “DataRally” event, empowering staff to recognize and cultivate skills related to the large language models that contribute to ChatGPT’s success.
Ricardo Martín Manjón, BBVA’s global head of data, noted, “We believe that when used safely and responsibly, generative AI can fundamentally transform how we assist our customers and offer tailored services. It also has the potential to inspire creativity among our staff.”
Brad Lightcap, OpenAI’s COO, expressed enthusiasm for the partnership with BBVA, stating, “We are thrilled to collaborate with one of Europe’s leading banks to deliver the capabilities of ChatGPT Enterprise on a larger scale. AI has the power to streamline routine tasks, enhancing creativity, efficiency, and overall productivity.”
For those interested in exploring the challenges and opportunities that artificial intelligence presents to the banking industry, BBVA invites you to register for Finextra’s inaugural NextGenAI conference, scheduled for November 26, 2024.