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CaixaBank speeds up Gen AI deployment with GalaxIA Project

August 20, 2024
3 Min Reads

CaixaBank launches GalaxIA, the second phase of its ambitious generative AI initiative to scale AI use across the bank

One of the top financial organizations in Spain, CaixaBank, has begun the second stage of its large-scale generative artificial intelligence (AI) project, called GalaxIA.

Building on the success of GenIAl, this project seeks to scale up and execute AI use cases throughout the banking group.

A multidisciplinary group of more than 100 professionals with expertise in AI, security, cloud computing, business strategy, user experience, development, data science, and architecture work together on the GalaxIA project.

CaixaBank: Gen AI mass adoption


This team, which is made up of representatives from several CaixaBank divisions as well as its tech division CaixaBank Tech, will be in charge of the bank's use of generative AI.

The CIO of CaixaBank, Luis Javier Blas Agüeros, states of the project's goals: "We want to use generative AI's great potential to help management and repetitive tasks. This will give our staff more information and free up time to work on higher-value tasks, which will ultimately improve the service our customers receive."

In the allotted time, the GenIAl project's first phase successfully implemented and delivered a selection of use cases to end customers, surpassing expectations. In addition, it enhanced internal generative AI skills and knowledge while revealing the true costs of these solutions.

 


 

After development, the following five first generative AI use cases are now prepared for scaling:

 

• Employee Assistant: A better cognitive assistant that offers more direct, conversational replies and improves search capabilities.

 

• Wall Conversations: More frequent and higher caliber everyday contacts between managers and customers.

 

• Code Generation: Optimized project lifecycles through streamlined testing, documentation, and programming procedures.

 

• Contact Center Assistant: Assists agents with certain activities such as blocking cards and gives them relevant client information.

 

• Customer service management: Assists specialized teams in operational management by identifying and categorizing cases.

 


"GalaxIA will act as an accelerator for our generative AI projects and serve as an active radar to detect new developments in this rapidly evolving ecosystem," says CaixaBank CEO Gonzalo Gortázar, highlighting the project's strategic relevance. In order to remain at the forefront of technological innovation in banking, we are dedicated to quick adaption procedures.

Scaling Gen AI for the future


In order to facilitate the development and expansion of these use cases throughout the whole organization, the bank has created a new technology platform. The platform places a high priority on security, dependability, and resilience in order to facilitate the broad integration of generative AI into CaixaBank's operations.

As part of GalaxIA, CaixaBank intends to analyze and create more use cases in the future. Projects that enhance customer experience and processing times and yield quick returns will be prioritized, along with medium- and long-term strategic goals that have the potential to significantly change intricate business processes like the mortgage application process.

The bank's strategic focus remains its dedication to ethical AI. It is the goal of a multidisciplinary approach to guarantee the responsibility, fairness, and transparency of AI applications. Explainable AI is being investigated by CaixaBank as a way to improve fraud detection systems without unintentionally introducing prejudice or discrimination.

"We believe that the developments in generative AI will be widely adopted by society in the coming years," says CaixaBank Chairman Jordi Gual in closing. This will revolutionize our internal operations and need significant adjustments in how we interact with our clients. GalaxIA allows us to actively drive this shift rather than merely react to it. 

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