BBVA Unveils ChatGPT Store Boosting Employee AI Adoption

BBVA Champions Generative AI with New Internal Store and Expanded Access

BBVA has significantly advanced its artificial intelligence capabilities by launching an internal library known as the ChatGPT Store. This platform already offers 1,000 specialized bots for use across various departments within the global financial group. According to BBVA, the ChatGPT Store is designed to "help users locate the 1,000 generative artificial intelligence assistants (bots) considered relevant for the entire organisation and available to all users."

Impressive Productivity Gains Drive Wider ChatGPT Rollout

The Spanish bank is also increasing its investment in AI by adding almost 8,000 more ChatGPT licences. This decision comes after data revealed that employees using the tool to automate routine tasks are saving an average of 2.8 hours per week. The GenAI tool, which will eventually be accessible to 11,000 staff members, has demonstrated high engagement, with 80% of those with current access using it daily.

This expansion is a key part of BBVA’s broader strategy to integrate GenAI throughout its entire business. This move follows an initial exploration phase that began just a year ago when BBVA acquired 3,300 licences for ChatGPT Enterprise to assess its potential. Since then, over 3,000 bots have been developed for specific tasks such as translations, document summarisation, and report writing. More complex applications include assistance with coding and the analysis of financial information.

Strategic Vision and Employee Demand Fuel AI Integration

Elena Alfaro, BBVA’s global head of AI adoption, highlighted that the increased license deal is a direct result of strong internal demand. "The expansion of our licences is a product of heavy in-house demand, as many business areas in all countries have expressed an interest in integrating generative AI capabilities into their teams," she stated.

"The expansion of our licences is a product of heavy in-house demand, as many business areas in all countries have expressed an interest in integrating generative AI capabilities into their teams."

— Elena Alfaro, BBVA’s Global Head of AI Adoption

Fostering Safe Use and Internal Innovation

Alongside the increased number of licences, BBVA is committed to training its staff on the safe and effective use of GenAI. The bank is also cultivating a community where employees can share ideas and best practices related to the technology.

Antonio Bravo, BBVA’s global head of data, commented on this approach, saying, "We’re amplifying human talent with the capabilities of language models."

"We’re amplifying human talent with the capabilities of language models."

— Antonio Bravo, BBVA’s Global Head of Data

A significant part of BBVA's strategy involves leveraging internal innovation. Teams with a deep understanding of business requirements are encouraged to combine this knowledge with what they learn about GenAI to develop new use cases. Earlier this year, an internal "BBVA Bot Talent" hackathon held at its operation in Mexico generated over 170 ideas, three of which are now set to be implemented across the entire group.

Navigating GenAI in the Regulated Banking Sector

For highly regulated institutions like banks, maintaining control over the use and development of GenAI is crucial. This cautious yet proactive approach is echoed by other industry leaders.

In a recent discussion with Computer Weekly, ING's global chief technology officer, Danelle Tonella, explained that her bank is adopting a "conservatively aggressive" stance towards GenAI. This ensures that its exploration doesn't devolve into a "tech toy conversation."

Tonella elaborated, "We brought in strict governance that focused all exploration on GenAI on five areas, and only under the control of the chief operating officer. This is important because AI has gained a lot of attention and traction. Without this governance, and due to the entrepreneurial nature of our bank, we might have seen bits of GenAI all over the place."

Banking Industry Trends: A Surge in AI Talent

Banks are "relentlessly" pursuing AI-driven transformation, as indicated in a report from banking industry benchmarking firm Evident.

Their latest AI talent report revealed a 13% increase in AI staff at banks over the past six months. Significantly, one in every 50 employees recruited by the top 10 banks now works in an AI-related role.

The report found that recruitment for AI development professionals grew by 6%, hiring for data engineers increased by 14%, and the number of AI and software implementation experts hired surged by 42%.