BBVA Dedicates Space For AI Services

BBVA has a staff of over 150 data scientists, engineering and department heads near their Madrid HQ specifically focused on AI-based services in what they’re calling an “AI Factory”; Richard Forcano, global head of engineering at the bank stated, “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. And also to streamline and increase the efficiency of our internal processes.”; BBVA has also launched a nine month program called the Open Innovation Acceleration Program to help fintechs get off the ground. Source

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