BBVA creates AI Factory to drive data innovation
Spanish banking group, BBVA, has set up a new centre to explore the ways artificial intelligence (AI) can support its data-driven services, reports Jane Connolly.
Bringing together 150 employees, including data scientists and engineering staff, the AI Factory in Madrid will focus on ensuring its AI solutions can be reused and scaled across other business units and countries.
The aim is to reduce time-to-market for new solutions and build on the success of its award-winning mobile app.
Ricardo Martín Manjón, global head of data at BBVA, says: “The smart and responsible use of data is one of the key levers of BBVA’s transformation; one on which we have been working for years. In this line, the purpose of the AI Factory is to contribute to driving this transformation, focusing on those areas where AI can have a more differential and larger-scale impact.”
“The AI Factory will allow us to have the best tech and data teams working in an integrated manner, with the aim of developing algorithms that can be embedded into the bank processes to enrich our channels, products and services through personalisation, contextualisation and recommendation,” adds Ricardo Forcano, global head of engineering at BBVA. “And also to streamline and increase the efficiency of our internal processes.”
BBVA’s existing popular data-driven services include rental and purchase price estimator BBVA Valora, financial health assessment feature Bconomy and account smart aggregator One View.
