Gortázar (CaixaBank): AI is generating a greater need for employment

CaixaBank's CEO, Gonzalo Gortázar, spoke at the XVII Encuentro Financiero EXPANSIÓN-KPMG, highlighting how artificial intelligence (AI) is creating more employment needs in the banking sector. The bank, currently in the middle of a strategic plan where technology investment plays a crucial role, has added nearly 1,000 employees annually over the past three years due to the adoption of AI.

Gortázar emphasized AI's transformative power and dismissed concerns that technology would destroy jobs in the short to medium term. He believes that employability should be combined with the adoption of disruptive technologies to ensure continued growth. While acknowledging that some functions may change and some jobs may become less important due to technological evolution, Gortázar stressed that the bank can maintain employment while increasing productivity.

Looking ahead, CaixaBank aims to meet and even exceed the objectives set in its current strategic plan, which is set to conclude in a year. The bank faces what remains of its current roadmap and the start of the next strategic plan in an environment with rising interest rates, with Gortázar predicting further monetary tightening in the coming months.

He even hinted at official rates reaching 4% in the long term, suggesting interest rates will remain high within a reasonable range, allowing the bank to control inflation, maintain stability, and continue adopting technology to provide better service.