BBVA created a library called ChatGPT Store that already contains 1,000 bots for use in its business. BBVA says that the ChatGPT store “helps users find the 1,000 [generative artificial intelligence] bots considered relevant for the whole organisation and are available to all users”.
The Spanish Bank has also added nearly 8,000 more bots. ChatGPT licenses were purchased after its use in automating routine tasks saved employees on average 2.8 hours each week. It also said that 80% of the 11,000 employees who will have access to GenAI, a tool for generative artificial Intelligence (GenAI), had used it every day.
BBVA plans to use GenAI in its entire business. The expanded license deal with ChatGPT maker OpenAI forms part of the plan. Just a year ago, BBVA acquired 3300 licences for ChatGPT Enterprise () to “explore the potential”. Since then, more than 3,000 bots are designed to perform specific tasks such as translations and document summarisation. The more complex use cases involve assisting with coding, financial analysis and report writing.
The increase in licences is a result of the high demand within the company. Many business areas across all countries expressed interest in integrating generative AI into their teams. Elena Alfaro from BBVA.
BBVAās global head of AI, Elena Alfaro said that the increased license deal was the result of the demand within the business. The expansion of our licenses is a result of heavy internal demand. Many business areas across all countries have expressed interest in integrating generative AI into their teams.
BBVA is also training staff on how to use the technology and creating a community for sharing ideas and best practices.
Antonio Bravo said, “We are amplifying the human talent by using the capabilities of language model.”
Internal innovation is a part of the process to increase the use of ChatGPT. Staff in teams can combine their knowledge of GenAI with the business requirements they have to come up with new ideas.
Earlier in the year, BBVA Bot talent hackathon was held at the bank’s Mexico operation. The hackathon produced more than 170 new ideas. Three of them will be shared across the group.
It’s important that highly regulated, innovative banks maintain control over GenAI’s development and use. In a recent interview, ING’s global chief technology officer Danelle Tonell said that the bank takes a “conservatively-aggressive” approach to GenAI in order to avoid it becoming a “tech-toy conversation”.
We implemented a strict governance which focused all exploration of GenAI on only five areas and under the control the chief operating officer. AI has attracted a lot attention and is gaining traction. Tonella said that without this governance and because of the entrepreneurial nature of the bank, we may have seen bits of GenAI everywhere. According to a report by banking industry benchmarking company Evident, banks are “relentlessly pushing” AI-led transformation.
The company’s latestAi talent reportrevealed that AI staff in banks has increased by 13% over the last six months. One in 50 employees hired by the top ten banks are now in AI-related positions.
The report found that the number of AI developers hired increased by 6%. Hiring data engineers increased 14%.
The only safe jobs in banking are those that involve artificial intelligence
by Karl Flinders.
by Karl Flinders.
by Karl Flinders.
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by Karl Flinders.
BBVA continues to hire talent with a tech job portal
