CaixaBank and Microsoft inked a strategic joint innovation partnership to advance AI in new financial solutions and build creative work environments in the metaverse.
CaixaBank Tech, a tech business created in 2021 to improve the CaixaBank Group’s technological progress, will be involved. This CaixaBank IT subsidiary has AI experts and a Centre of Excellence to boost innovation. The new Barcelona Laboratory will cooperate alongside Microsoft’s AI R&D cluster, which employs almost 100 software developers, data scientists, and machine learning professionals.
AI Innovation Lab will build concept testing, prototypes, and use cases to study how AI can disrupt financial services
This will increase efficiency, customer experience, and cybersecurity. A cyberassistant could help employees and back-office units eliminate low-value-added duties so they can focus on their main responsibilities. Another option is to develop user interface systems so customers and employees may utilize plain language with bank technology.
CaixaBank and Microsoft will also construct interactive virtual worlds (metaverses) to improve consumer and employee experiences and hybrid work environments. The metaverse offers numerous opportunities in the financial sector, from creating a new interaction channel to incorporating and developing talent.
“CaixaBank began exploring AI use cases in the financial sector more than a decade ago. Since then, we’ve become one of the most active players in delivering new AI-based solutions, with global firsts and a benchmark team domestically and internationally. CaixaBank’s Media Director, Luis Javier Blas Agüeros, said collaborating with Microsoft on AI research would speed up product development and provide the bank’s clients and workers access to cutting-edge technology.
“Combining CaixaBank’s financial market expertise with Microsoft’s AI and other breakthrough technologies will make it easier to develop solutions that improve the financial services customer experience,” says Microsoft Spain’s Alberto Granados.
CaixaBank is among Spain’s most advanced AI-using institutions. The bank trained conversational AI in Spanish and implemented cognitive assistants to help employees and customers. CaixaBank is using AI to produce solutions for managers and customers, as well as employee training.
CaixaBank and Microsoft will create a number of training curriculums for the bank’s technical and business departments, including the AI Business School for Financial Services, which intends to deliver strategic expertise on the influence of AI on financial services. Enhance cloud, security, data management, and AI training.
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