BBVA expands OpenAI partnership, rolls out ChatGPT Enterprise to 120,000 employees worldwide

BBVA doubles down on ChatGPT with OpenAI alliance

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Spanish banking group BBVA has been working with OpenAI for nearly two years, bringing ChatGPT Enterprise to 11,000 employees. With over 80% of these staffers using the licenses daily and reporting savings of nearly three hours per week on routine tasks, the bank is opting for a full roll out, "taking a decisive step toward an entirely new productivity model powered by AI," says a statement. The alliance will also see OpenAI play a role in co-creating tools that enable BBVA to accelerate its AI-driven transformation strategy. This means BBVA will have preferential access to OpenAI's most advanced capabilities -- including expert talent and the latest models. Carlos Torres Vila, chair, BBVA, says: "Our alliance with OpenAI accelerates the native integration of artificial intelligence across the bank to create a smarter, more proactive, and completely personalized banking experience, anticipating the needs of every client." Recently, the bank showed off a conversational app concept built directly into OpenAI's ChatGPT that lets customers get information about various products and services. The firms also plan to jointly develop other solutions to help relationship managers serve customers in a personalised way. Streamlining risk-analysis processes and transforming the bank's operations in areas such as software development are also on the agenda. Meanwhile, work is underway on the creation of a digital "alter ego" -- a proactive second self that learns each employee's way of working, remembers their projects and executes tasks with their authorisation and oversight. "BBVA is a strong example of how a large financial institution can adopt artificial intelligence with real ambition and speed. With the expansion of our work together, BBVA will embed our AI at the core of its products and operations to enhance the overall banking experience for their customers," says Sam Altman, CEO, OpenAI.

Spain's BBVA to scale up AI use with ChatGPT developer

BBVA will work with OpenAI to change banking operations and create "an intelligent conversational assistant capable of supporting customers" in everyday business, it said. ChatGPT developer OpenAI and BBVA announced on Friday a multi-year deal to massively scale up the Spanish banking giant's use of artificial intelligence, including to reshape the customer experience. ChatGPT Enterprise will be rolled out to all BBVA's 120,000 staff worldwide, a tenfold increase that represents "one of the largest corporate deployments of this technology globally", the bank said in a statement. BBVA will work with OpenAI to change banking operations and create "an intelligent conversational assistant capable of supporting customers" in everyday business, it said. BBVA chairman Carlos Torres Vila said the alliance aimed to "create a smarter, more proactive, and completely personalised banking experience, anticipating the needs of every client". After a first deal with OpenAI in May 2024, BBVA employees had already saved almost three hours per week on routine tasks thanks to AI, with more than 80 percent of them using it daily, the companies said. BBVA, a major player in Spain, Turkey and Latin America, plans to harness AI to drive a transformation strategy in the highly competitive banking sector.

BBVA expands OpenAI partnership, gives ChatGPT access to 120,000 staff By Investing.com

Investing.com -- BBVA is expanding its partnership with OpenAI to provide ChatGPT Enterprise access to more than 120,000 employees across the banking group. The Spanish bank made the decision after a successful pilot program involving 11,000 staff members, which demonstrated that the AI tool saved employees approximately three hours per week on routine tasks. While financial terms of the agreement were not disclosed, a standard business subscription to ChatGPT Enterprise typically costs $25 per user monthly, suggesting BBVA could be investing tens of millions of dollars annually for the company-wide implementation. "With this expansion of our work together, BBVA will embed our AI into the core of their products and operations to enhance the overall banking experience for their customers," said Sam Altman, chief executive officer of OpenAI, in a statement. As part of the expanded partnership, engineering teams from both companies will collaborate more closely on developing and training AI models specifically designed for banking applications and use cases. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.