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Innovation

Innovation

BBVA’s Chief Financial Officer, Jaime Sáenz de Tejada explained this morning that “digital transformation is affecting all areas of the bank, and customers are the first ones to feel this. The results are already tangible. And, more and more, customers are turning to digital channels,” he said, in the Eighth Financial Encounter organized by the business daily Expansión and KPMG.

Neural networks training is a time consuming activity, the amount of computation needed is usually high even for today standards. There are two ways to reduce the time needed, use more powerful machines or use more machines.

The first approach can be achieved using dedicated hardware like GPUs or maybe FPGAs or TPUs in the future. But it can also be done by splitting the task between more general purpose hardware like the one used in cloud systems.

This document summarizes the conclusions reached after researching the use of distributed neural networks.

It’s always new times for innovation. It has always been and it will always be. It’s in our nature to challenge the model to stress the rules. Even our own model.

Perseverance is the key to success. That was the message BBVA’s Group Executive Chairman shared with an audience of finance and banking students at the start of the academic year. “Amazon was about to collapse twice. It has been hard for us, but here we are leading the transformation of the industry,” said Francisco González. Principles are the other fundamental element: “Never give in to misconduct,” he told them.