BBVA is entering a three-year project with the University of Navarra to address the main ethical, technical and regulatory challenges posed by artificial intelligence.
Under the 'Fair Learning' project, a multidisciplinary team of BBVA and The University of Navarra will explore the use of advanced mathematical and statistical methods to correct data bias, integrate philosophical and ethical frameworks into model development, and devise a set of best practices based on international legislation.
Josep Amorós, project coordinator and senior manager of Analytics Transformation at BBVA, remarks: “This is a genuinely groundbreaking project in the financial sector and a further show of BBVA’s commitment to advancing its technological transformation without losing focus on people.”
He says the challenges are not only technical but also social, and therefore require ethical reflection, oversight and institutional commitment to address outstanding issues from technological, philosophical and legal standpoints.
Over the next three years, twenty experts—including BBVA data scientists and University of Navarra academics from various disciplines such as engineering, philosophy, medicine, law and economics — will work together to design a framework for detecting, mitigating and correcting AI bias, guaranteeing privacy, fairness and individual autonomy, and for defining best practices in line with current law and regulations.
Says Amorós: “AI is already a central pillar of the bank’s transformation and will only gain in prominence over the coming years. Therefore, we must ensure its development adheres to principles of fairness, responsibility and transparency.”