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Innovation

Innovation

Geoffrey Hinton, who just received the BBVA Frontiers of Knowledge Award in Information and Communications Technologies, teaches machines to think like people. His work at University of Toronto and then Google, has been instrumental in the development of a number of applications, including automatic translation system, personal assistants like Siri, driverless systems or medical diagnosis.

Ethics has always been a key debate topic within the financial system. And it still is in the current era of digital disruption that has engulfed a sector that is pivotal for the economy. But, can the banking industry stay up to date with the new frantic pace of innovation and still operate following a series of ethical principles?

In José Manuel González-Páramo’s opinion, in the context of change unleashed by new technologies, the financial sector needs to keep ethics at the core of its banking activity. According to BBVA’s executive director, in the new digital era, banks need start considering confidence as a top priority, and data privacy and cybersecurity as the two pillars on which this confidence is built.

blockchain bank innovation technoogy development bbva

Blockchain is paving the way for new ways of business for independent journalists. This is just the beginning of a revolution based on many of the principles of the sharing economy.

BBVA is the only financial institution attending the G20 conference being held this Wednesday in Wiesbaden (Germany).  Executive Director José Manuel González-Páramo participated in a conference on the opportunities and risks associated with the digital transformation, together with the President of the Deutsche Bundesbank, Jens Weidmann; German Finance Minister Wolfgang Schäuble; Governor of the Central Bank of Mexico, Agustín Carstens; and Bank of England Governor Mark Carney.

Image of Geoffrey Hinton, BBVA Foundation Frontiers of Knowledge Award in ICT

Geoffrey Hinton’s work at University of Toronto is focused on a branch of artificial intelligence called deep learning. His goal is to develop a new breed of computers capable of learning in the same way as the human brain. At Google, where he has also been working for a number of years now, he has been instrumental in the development of a number of applications, including automatic translation system, driverless systems or tumor malignancy classification.