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BBVA Partners with OpenAI for AI Banking Revolution
15 Dec
Summary
- BBVA and OpenAI formed a partnership to advance AI in banking.
- They will create AI solutions for customer service and operations.
- The bank will extend ChatGPT Enterprise to over 120,000 employees.
Banco Bilbao Vizcaya Argentaria (BBVA) has entered into a significant strategic partnership with OpenAI, a leader in artificial intelligence. This collaboration is designed to accelerate the integration of AI into banking services, enhancing customer experiences and optimizing the bank's internal operations. BBVA aims to leverage OpenAI's advanced AI models and expertise to build smarter, more proactive, and personalized banking solutions.
The partnership will focus on developing an intelligent conversational assistant to aid customers with daily financial activities and empower relationship managers with tools for personalized support. Furthermore, BBVA plans to streamline complex processes like risk analysis and software development using AI. A unique digital 'alter ego' will also be created to assist employees by remembering ongoing projects and performing tasks under supervision.
This initiative marks BBVA's ambitious entry into the AI era, building on its history of digital transformation. The bank will expand its deployment of ChatGPT Enterprise to its global workforce of over 120,000 employees, following a successful pilot program where 80% of users reported significant time savings on routine tasks. BBVA is also exploring direct integration of its services into ChatGPT, signaling a new frontier in customer interaction.
