Neural networks, natural language processing, machine learning... AI is an essential partner for BBVA to help its customers manage their savings, manage their investments, analyze their consumption and plan for their next outgoings.

Machine learning has no end of business applications. Consumers and citizens stand to benefit from this technology, which lets them manage their financial health, streamlines their digital processes, or makes their online experience smoother across multiple platforms, among other uses. A basic premise has emerged from this boom: there is nothing mysterious or magical about artificial intelligence (AI), and nor should it seem so. For more complex algorithms, data scientists develop tools to help us understand how they make their decisions.

Artificial intelligence is increasingly mainstreamed in society and used to make decisions that affect people´s lives in areas such as  their workplace or  the justice system. This presents the challenge of biased algorithms, which are mainly caused by biases or distortions in the training data. Proposals are already in place that caution against bias and seek to mitigate its harmful impact on society.

Opening imagen created with Midjourney (AI)

BBVA has taken a firm step toward the future by expanding its Data University program, which now features new courses on generative artificial intelligence (generative AI). As part of the agreement signed with OpenAI, the bank is calling on its employees, from data scientists to any other member of the team, to apply the latest advances in AI, machine learning and advanced analytics in developing innovative financial products. BBVA’s Data University has already impacted more than 50,000 employees in 6 years, of whom nearly 5,000 have completed specialized courses. BBVA is also looking to strengthen its educational ecosystem through partnerships with prestigious institutions such as the University of Navarra, Telefónica and Coursera.

BBVA has chosen Telefónica Tech to boost the cybersecurity of its operations on a global scale with the incorporation of the most advanced technologies in artificial intelligence and process automation for the prevention of cyber threats. In addition, this alliance involves the creation of a new specialised centre in Mexico, which will function as a mirror of BBVA's existing Global Cybersecurity Centre in Spain. The combination of the two will provide comprehensive and uninterrupted coverage for the entire Group.

Online courses promoted by universities, business school training and even materials offered by technology giants are some of the ways to learn to master artificial intelligence. Beyond programming, AI professionals can receive training in other areas, such as computational linguistics and ethics. Thanks to this trend, Europe currently has over 120,000 professionals who are highly qualified to work in AI.

BBVA AI Factory, BBVA's artificial intelligence hub, has been honored for the third time by Global Finance magazine as one of the leading innovation labs in the financial world. BBVA is the only Spanish bank featured in this ranking, which highlights "excellence" in creating solutions that address current challenges in the financial sector.

BBVA conducted a study in Spain and Mexico that shows that customers who use its main financial health tools save 11 percent and 20 percent more, respectively. But how did the bank ensure that they eliminated the influence of other variables when calculating this savings? To do so, the bank used two machine learning models and causal inference, a statistical methodology that detects complex cause-effect relationships.

Building a business is not easy, yet it happens to be one of the most important decisions in life that many people will ever make. And while we generally talk about challenges in this process, such as the availability of capital, the macroeconomic climate of a country, cash flow management or registration and licensing, little is said about one of the biggest challenges: mental health care.

The numerous advances in the field of neuroscience allow us to understand in greater depth how the human brain and its different mechanisms work. “Energy designs our thoughts. Energy can be programmed, and therefore so can thoughts,” said Ana Ibáñez, an expert in applied neuroscience and a high performance brain coach, during a talk as part of the BBVA Tech Women program.