CaixaBank, along with 16 other European companies, founded the GREEN.DAT.AI European Research Consortium. It aims to develop new AI-based services that provide more sustainable data analytics. Possible applications of this consortium’s development include energy efficiency optimization in the use of big data and the use of explainable AI in fraud detection and prevention.
This is a use case specifically investigated by CaixaBank. Specifically, it includes suggestions for avoiding potential biases when using artificial intelligence in fraud detection systems.
The European Commission has submitted the world’s first law on artificial intelligence. This legal framework explains how companies and governments can use this technology to ensure user rights and security. The law identifies high-risk systems that may be used in particularly sensitive areas. Examples include healthcare and finance, where AI applications require specific human oversight mechanisms. In such cases, humans must be empowered to intervene in the system. The aim is to mitigate biases that may affect the population.
GREEN.DAT.AI, Project
Funding comes from Horizon Europe’s research and innovation program under GA 101070416. This is intended to provide tools that help us understand the criteria for the decisions the AI makes in each case. As a result, we can monitor these decisions and remediate and avoid this risk of bias. This project aims to facilitate the supervision required by law and contribute to its compliance.
The project, which started in 2023, is scheduled to be completed in December 2025. We follow an interdisciplinary approach to make the most of our expert knowledge on different disciplines.
The findings of the project will be made available to all European companies and institutions interested in improving various aspects of sustainability in big data analytics.
European research project
In addition to this consortium, CaixaBank participates in other European projects within the Horizon 2020 programme. The EU supports projects with a budget of around €80 billion for the period 2014-2020.
€95.51 billion is available for the period 2021-2027 for Horizon Europe, the European Commission’s current funding framework for research and innovation. Its aim is to ensure that Europe produces first-class science and breaks down barriers to innovation.
CaixaBank has participated in 10 award consortia in recent years. Specifically, we received over €2.5 million in funding for innovation and cybersecurity. Among them are other projects related to artificial intelligence and big data. These include his A4CYBER, which analyzes how this technology can be applied to improve cybersecurity.
CaixaBank: Innovation in Applying AI to Financial Services
CaixaBank prides itself on being the most innovative bank in applying artificial intelligence to financial services in Spain. The bank is a global pioneer in training conversational AI in Spanish. We are also implementing cognitive assistants to help our employees and customers.
CaixaBank is now harnessing the power of AI to develop tools for managers and customers. Other strategic goals include employee training.
