BBVA, Spain's second-largest bank, has reported a significant boost in productivity following the integration of ChatGPT Enterprise. According to user reports, 80% of employees have saved over two hours of work each week. However, integrating ChatGPT into the bank's complex internal systems remains a challenge.
In March, BBVA partnered with OpenAI, acquiring 3,000 ChatGPT Enterprise licenses, making it one of OpenAI's largest financial services clients. ChatGPT Enterprise offers privacy and security controls suitable for business use, allowing employees to design "GPTs" for specific tasks. BBVA's departments, including legal and risk management, have created over 2,900 GPTs to translate risk terminology and draft responses to retail banking queries.
A recent report highlights ChatGPT's impact on productivity and creativity within the bank. Despite these benefits, concerns about scalability and integration persist. Elena Alfaro, BBVA's Global Head of AI Applications, noted the complexity of incorporating ChatGPT into existing systems, despite OpenAI's assurances of successful integrations elsewhere.
BBVA plans to expand its ChatGPT Enterprise licenses to 3,300 and aims to track cost-saving benefits by 2025. Alfaro emphasized the broader value of the technology beyond quantifiable savings, cautioning against focusing solely on financial metrics. She also mentioned the need to assess the satisfaction of a broader user base with the technology, as current feedback is limited to a few thousand users.
