BBVA Expands AI Factory to Mexico and Türkiye, Doubling Workforce to Drive Global AI Innovation

BBVA Expands AI Factory to Mexico and Türkiye, Doubling Workforce to Drive Global AI Innovation

(IN BRIEF) BBVA’s AI Factory has expanded to Mexico and Türkiye, doubling its workforce to over 400 AI experts. This expansion aims to accelerate the development of AI solutions to improve customer experiences and optimize internal processes. The AI Factory focuses on creating innovative technologies, such as virtual assistants and managerial ‘copilot’ tools, while emphasizing the reusability of AI components across different challenges. BBVA’s AI strategy is poised to enhance its global operations, supported by a strong commitment to leveraging generative AI and contributing to the broader fintech community.

(PRESS RELEASE) BILBAO, 13-Aug-2024 — /EuropaWire/ — BBVA’s AI Factory, dedicated to advancing artificial intelligence solutions, is expanding its operations to Mexico and Türkiye. This strategic move aims to accelerate the global development of AI-driven products, enhance customer experience, and optimize internal processes across the bank’s extensive network. The expansion includes hiring 230 new AI experts, doubling the workforce to over 400 professionals.

The AI Factory focuses on researching global AI trends and developing analytical tools that power BBVA’s technological solutions, such as financial health features in the BBVA app and personalized financial product recommendations. With new centers in Mexico and Türkiye—key regions for BBVA’s business alongside Spain—the AI Factory is positioned to create and adapt AI solutions on a global scale, leveraging the diverse expertise within the Group.

BBVA’s AI team, now bolstered by new talent, is engaged in several significant projects, including the development of a conversational virtual assistant and ‘copilot’ tools designed to enhance managerial efficiency and improve customer relationships. These initiatives are part of a broader strategy to integrate AI into every aspect of the bank’s operations, ensuring both customer-centric solutions and internal productivity gains.

Ignacio Teulón, Global Head of BBVA AI Factory, emphasized the importance of aligning AI developments with business needs while also maintaining a focus on reusability of AI components across different challenges. The AI Factory’s Mercury library, a centralized repository of over 500 code components, plays a key role in this strategy, facilitating faster product development and deployment across BBVA’s markets.

As the AI Factory continues to grow, it also embraces the potential of generative AI, aiming to use these advancements to further enhance customer value and streamline internal processes. BBVA’s commitment to AI innovation is further highlighted by its sharing of code with the open-source community, promoting collaboration and innovation within the fintech ecosystem.

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SOURCE: BBVA