BBVA Takes Center Stage at KDD 2024: Leading the Charge in Data Science and AI Innovations

BBVA participates in the international conference KDD (Knowledge Discovery and Data Mining), one of the most important and recognized events globally in the field of data science and machine learning. The city of Barcelona hosts the first edition of this event in Spain (the third in Europe after Paris and London), from August 25 to 29.

BBVA takes a bold step into the future by expanding its training offerings to employees with new courses on generative artificial intelligence. Under the agreement signed with OpenAI, the financial institution aims for its employees, from data scientists to any team member, to apply the latest advancements in AI, machine learning, and advanced analytics in the development of innovative financial products. Over the past 6 years, BBVA’s Campus has trained more than 50,000 employees through Data University, of which nearly 5,000 have completed specialized courses at Data University. In addition, BBVA strengthens its educational ecosystem through partnerships with prestigious institutions such as the University of Navarra, Telefónica, and Coursera.

In the context of the event, the bank has sponsored the Finance Day, which took place on the 26th, where experts from the fields of finance, fintech, artificial intelligence, and data mining discussed how to apply these technologies for the benefit of financial customers. Among the topics addressed are the application of AI in banking services, the use of machine learning in investment portfolios, the design of personalized product recommendation systems, and the use of these technologies to enhance sustainable financial business.

The use of data-driven technologies is a fundamental pillar in BBVA’s continuous transformation strategy, which has been utilizing them for years to optimize internal processes and offer customers products and services increasingly tailored to their specific financial profile. Their applications range from flexible financing offers to small businesses tailored to their invoicing needs, to supporting individual customers in managing their financial health, aided by digital tools based on advanced analytics, machine learning, and neural networks. Customers using these tools in Spain save up to 11% more compared to those who do not use them, and their satisfaction with the bank’s services is almost 24% higher.

To carry out this work, the bank has more than 5,500 professionals dedicated to leveraging data and artificial intelligence, along with the AI Factory, its hub for AI-based solutions, which operates from Spain, Mexico, and Turkey and is regarded by industry experts as one of the best financial innovation laboratories in the world.

“Participating in events like KDD allows us to stay in contact with those who are transforming advanced data analytics and artificial intelligence developments, and to share our own advancements,” says Jon Ander Beracoechea, chief scientist of BBVA. “This way, we can continue to explore the most cutting-edge technologies to apply them for the benefit of our customers as soon as they become available.”

The KDD conference is organized by the Association for Computing Machinery (ACM). Since 1995, it brings together academics, researchers, and professionals to share and discuss the latest theoretical developments and practical applications of data-driven technologies. In the 2024 edition, the focus is on topics such as generative AI, responsible AI, and data applications in the environmental and health sectors, in addition to finance.