BBVA Sponsors KDD, the Leading International Data Science Event
BBVA participates in the international conference KDD (Knowledge Discovery and Data Mining), one of the most important and recognized quotes worldwide in the field of data science and machine learning. The city of Barcelona is hosting the first edition of this event in Spain (the third in Europe after Paris and London) from August 25 to 29.
As part of the event, the bank sponsored the “Finance Day”, which took place on the 26th, where experts in the field of finance, financial technologies, artificial intelligence and data mining discussed. How to use these technologies for the benefit of financial clients. Among the issues they considered were the application of artificial intelligence in banking services, the use of machine learning in investment portfolios, the development of personalized product recommendation systems, or the use of these technologies to improve the sustainability of financial businesses.
The use of these data-driven technologies is a fundamental pillar in BBVA’s Continuous Transformation Strategywhich has been using them for years to streamline its internal processes and offer its customers products and services that are increasingly tailored to their specific financial profile. Its applications range from flexible financial offers for small businesses, tailored to their invoicing, to supporting individual customers in managing their financial status with digital tools based on advanced analytics, machine learning and neural networks. Customers who use these tools in Spain save up to 11% more than those who do not, and their satisfaction with the bank is almost 24% higher.
To carry out this work, the bank employs more than 5,500 specialists specializing in data and artificial intelligence, as well as the AI Factory, an artificial intelligence solutions factory that operates in Spain, Mexico and Turkey and is considered by industry experts as one of the best financial innovation laboratories in the world.
“Participating in events like KDD gives us the opportunity to stay connected with those transforming cutting-edge data analytics and AI developments, as well as share our own achievements,” he says. John Ander BeracocheaChief Scientist at BBVA. “This way, we can continue to study the most advanced technologies to apply them to the benefit of our clients as soon as they become available.”
The KDD conference is organized by the Association for Computing Machinery (ACM). Since 1995, it has brought together scientists, researchers, and practitioners to exchange and discuss the latest theoretical developments and practical applications of data-driven technologies. The 2024 edition of the meeting will focus on topics such as generative AI, responsible AI, and data applications in the environment, health, and finance.