BNP Paribas partners with Mistral AI

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By David Brooks

BNP Paribas has signed a multi-year agreement with Mistral AI covering all of the French artificial intelligence giant’s commercial models.

BNP Paribas’ global markets unit has been experimenting with Mistral AI’s models since last year and achieved “strong results.” The bank is now testing the technology in several business areas.

The new deal secures access to current and future business models in all of the bank’s business areas. By using Mistral AI Large Language Models, numerous use cases are already being developed in customer support, sales, IT and other areas.

Mistral AI was founded by former Google Deep Mind and Meta AI scientists and is considered a European OpenAI competitor. The company has already raised more than 1 billion euros, including BNP Paribas.

Mistral AI says its offering and strategy is complementary to highly regulated institutions and facilitates the controlled deployment of cutting-edge models on-site.

Sophie Heller, COO, BNP Paribas Commercial, Personal Banking and Services, said: “This partnership with Mistral AI marks another step in developing hyper-personalized digital services for our customers.

“For example, Gen AI will enable us to launch high-quality virtual assistants that answer our customers’ questions 24/7 and simplify end-to-end processes, improving the way our teams support customers.”

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