The lab's research will focus on developing hybrid environments in the metaverse.
CaixaBank, one of the main Spanish banking entities, has signed a partnership agreement with Microsoft to create a Artificial Intelligence (AI) Innovation Lab. The innovation hub will focus on the development of hybrid work environments in the metaverse, as well as other immersive environments that allow interactions between CaixaBank employees and their customers.
The development hub will be run by CaixaBank Tech, the bank's subsidiary launched in 2011 and focused on developing new technologies, together with Microsoft's AI R&D team. The AI development lab is currently located in the city of Barcelona.
The innovation work of CaixaBank and Microsoft will focus on the Development of proofs of concept, prototypes and use cases that explore the disruption in financial services from the application of artificial intelligence technologies.
The first points they intend to develop are those related to the Improving current Artificial Intelligence models using new technologies, as well as the incorporation of artificial intelligence in everyday life (AI at scale).
The projects will aim to improve efficiency, customer experience, cybersecurity and other business areas. For example, one of the first goals will be to develop a kind of “virtual assistant” that can help employees and back-office units to reduce the amount of time they spend on repetitive and ineffective tasks, so that they can focus their efforts on other more important activities.
Both entities will also work on the Creation of interactive virtual environments (metaverses) to offer immersive experiences, with applications in improving customer and employee experience, as well as in implementing hybrid work scenarios.
In this sense, the metaverse can have multiple use cases in the financial sector, from the creation of a new interaction channel that extends the customer experience to the Creating internal collaboration models in virtual offices, through to the incorporation and development of talent, among many other use cases.
Alberto Granados, President of Microsoft in Spain, points out that: “The combination of CaixaBank’s deep knowledge of the financial world and Microsoft’s experience in developing Artificial Intelligence and other technology solutions can be very positive in transforming the experience of users of financial services.”
As part of the agreement, CaixaBank and Microsoft will also carry out Training plans for technical and financial departments, as well as training in the use of cloud technologies, security, data management and Artificial Intelligence.
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