The second biggest Spanish Bank BBVA invests strongly in digitalization. Chairman Francisco González believes that “the technological and digital transformation is an extraordinary opportunity, but actively managing the changes it entails is fundamental to ensuring equal opportunity and the transfer of its enormous benefits, advantages and possibilities to the whole of society.”
Digital business creates jobs
The most digitized societies like the Nordic countries or economies with a more intense use of robots – like Japan or Singapore – have very low unemployment rates. In 2016, unemployment in the United States was practically the same as it was at the beginning of the 20th century, despite the increase in productivity, population growth and the labor force. During the same period, per capita income multiplied by 7.4. “The experience of all these countries teaches us how technical progress translates into greater social well-being”, he said.
BBVA believes in artifical intelligence and digital jobs
“Robots, artificial intelligence and big data will replace some jobs, but better ones will be created. In the future, there will be new jobs that we can’t even imagine today. Many jobs will be more productive and will offer higher salaries. There will be a transition period. It’s essential to manage the change, to protect the people but not the jobs that become obsolete or the structures that hinder progress. Investment in human capital, talent management, active employment policies and a long-term vision will be crucial in this process.”
There is an enormous unmet demand for people with a technical background. This gap could be eliminated through training, which should based on information coming from the private sector.” In July, for the first time, we sold more than one million units through digital channels in a single month. The technological transformation offers so many advantages that it’s unstoppable.