Observed Signal · May 23, 2024 · Partnership · Source: Tech.eu · Impact: 2/5 · Sentiment: Neutral
BBVA partners with OpenAI to use ChatGPT for market analysis
Spanish financial services group BBVA has entered a partnership with OpenAI, giving employees access to ChatGPT Enterprise and ChatGPT APIs for market analysis and decision-making. BBVA says it will explore the tool's potential to boost productivity but will not use ChatGPT exclusively and is evaluating other AI products. The bank, which operates in more than 25 countries and employs around 1,000 data scientists, has invested in AI through its internal 'AI Factories' for the past decade. Elena Alfaro, newly appointed Head of AI Adoption, said the goal is to enhance employee capabilities rather than replace them. The deployment is part of BBVA's strategy to pioneer AI innovation in financial services.
Major European bank's adoption of ChatGPT Enterprise demonstrates growing enterprise AI deployment, but it does not directly impact advertising technology or marketing infrastructure.
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Key Takeaways & Evidence Grounding
- BBVA has partnered with OpenAI to provide employees with access to ChatGPT APIs for market analysis and decision-making.
- BBVA is not using ChatGPT exclusively and is evaluating other AI products.
- BBVA operates in more than 25 countries and employs approximately 1,000 data scientists.
- BBVA has run internal AI research centers called AI Factories for a decade.
- Elena Alfaro was appointed Head of AI Adoption at BBVA.
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