The aim of the cooperation between BBVA and the University of Navarre is to bridge the gap in data-related skills and knowledge that plagues businesses. “This specialization is becoming increasingly important in order to optimize all business models. But according to a study by the European Union, the available data talent will not be able to meet the needs of companies in the next ten years,” he explained. Marco Bonille, responsible for the Advanced Analytics Community of Practice at BBVA. “By 2030, there could be a shortage of more than 200,000 skilled workers in Europe. But in Spain, for example, young people who are interested in a degree in data science have only been able to do so for three years,” he added.
According to the EU report, if there is a massive adoption of artificial intelligence technologies in the coming years, as some scenarios predict, education systems “will not be able to keep up with labor market demands”. “For this reason, we at BBVA have decided to approach this training internally,” continues Bonilla.
“The agreement with the University of Navarra is the only one of its kind in Spain, given its clear employment orientation. Thanks to this, we offer our professionals the opportunity to qualify at one of the educational institutions that are at the forefront in this field in our country with their Master’s degree in Big Data Science, the first official Master’s degree of its kind. That we’ve already trained 130 professionals means the formula works and allows us to have profiles that we didn’t have two years ago,” he added.
As the BBVA reports, these 130 new specialists join the more than 700 data scientists and more than 2,000 specialists that the bank has trained through the BBVA campus since 2018. “In general, more than 50,000 employees have completed some data-related training through the BBVA campus, which we have made one of our key axes to attract and retain talent,” said the head of Advanced Analytics Community of Practice at BBVA.
TRAINING FOR ALL BUSINESS AREAS
On the other hand two models from machine learning developed by BBVA employees took first and second place Datathon from Tracfone Wireless, the largest wireless service provider in the United States. Participants had to create a model that determines which customers are at risk of social exclusion and can access government aid to not lose their internet access during the Covid-19 confinement. Tracfone will take the successful solution into account in its work processes “in order to further personalize its service”.
Of those trained at the University of Navarra, 50 are graduates of the Masters in Big Data Science, in which employees acquire knowledge and skills in data analysis, programming and computing, machine learning and artificial intelligence and have the opportunity to compete data phones Internationally as part of the training program. Professionals from all business areas of the bank can enroll if they meet certain requirements, e.g. B. earned a certain percentage of credits in math, statistics, probability, or programming in their career. “Some of the graduates who weren’t data scientists when they started their master’s program are now working in a related field,” Bonilla said.
BBVA employees also have the opportunity to obtain a created certification as a data scientist as part of the innovative and gamified learning experience The Camp to together with the University of Navarre. In order to achieve this, they must have completed 400 hours of work on the platform big data the bank and the introductory course Data Scientist Basicsthat BBVA offers its employees in cooperation with Telefonica so that they acquire ideas about programming, statistics or machine learning in finance.
Enter here to find out more about businesses in Navarre.