Spanish banking weaves alliances with Silicon Valley for the new era of AI
The emergence of generative artificial intelligence has led Santander, BBVA, CaixaBank, Sabadell, Bankinter and Unicaja to strengthen their ties with some of the world's largest technology providers.
Spanish banks are forming alliances with tech companies like OpenAI, Google, and Microsoft to access advanced AI models and stay competitive in innovation. BBVA has a strategic collaboration with OpenAI, providing preferential access to its models, and has also partnered with Amazon Web Services to build a global data and AI platform.
Other banks, such as Santander, CaixaBank, and Bankinter, are also forming multiple partnerships to maintain technological sovereignty and avoid dependence on a single provider. The goal is to balance access to cutting-edge technology with the ability to make decisions and maintain control over their systems. This comes amid concerns about the concentration of AI capabilities in a few companies and the risks associated with dependence on external technology.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
