Government Ministries Partner with BGL BNP Paribas for AI Metamodel Development

The Ministry of the Economy and the Ministry of Finance have announced their support for BGL BNP Paribas in the development of an AI “metamodel” tool. This groundbreaking project, unveiled during a press conference by Lex Delles, Minister of the Economy, SMEs, Energy, and Tourism, alongside Gilles Roth, Minister of Finance, marks a significant step forward in Luxembourg’s commitment to fostering innovation and technological advancement.

Unlocking the potential of AI

The use of artificial intelligence (AI) has vast potential to improve various sectors of the economy, including finance, and streamline services for citizens.

Recognising this potential, the government has prioritised the development of AI, as set out in the coalition agreement. The aim: to further stimulate economic diversification in Luxembourg and strengthen ecosystems in priority sectors, including AI.

BGL BNP Paribas: a leader in innovation

BGL BNP Paribas, founded in 1919, is one of the largest banks in the Grand Duchy of Luxembourg, operating in retail, private and corporate banking. As part of the BNP Paribas group, one of the country’s largest employers, BGL BNP Paribas plays a key role in promoting innovation and technological progress.

AI is of strategic importance to BGL BNP Paribas, with current applications covering risk management, payments, email comprehension and credit management.

In line with its commitment to innovation, the bank has launched a research and development (R&D) project in collaboration with the Interdisciplinary Center for Security, Reliability and Trust (SnT) at the University of Luxembourg.

This project aims to develop an intelligent and secure monitoring system for artificial intelligence solutions, to ensure compliance with regulatory frameworks in a constantly evolving technological environment.

Government support for technological advancement

BGL BNP Paribas is the first bank to benefit from public co-financing under the RDI (Research-Development-Innovation) aid scheme for a project linked to artificial intelligence.

Representing an investment of around 7.4 million euros over three years, with co-financing of 2.95 million euros from the Luxembourg Ministry of the Economy, this project underlines the bank’s commitment to technological progress and innovation.

Béatrice Belorgey, President of the Executive Committee of BGL BNP Paribas and head of BNP Paribas Group entities in Luxembourg, emphasized the importance of AI development as part of the bank’s Growth-Technology-Sustainability 2025 plan. She expressed her pride in the bank’s pioneering role in this field and her gratitude for the support of partners such as SnT and the Ministry of Economy.

Minister Lex Delles emphasized the promising future of AI technology in improving Luxembourg’s competitiveness and productivity. He expressed the government’s support for BGL BNP Paribas’ innovative project, which should make a significant contribution to the development of skills in the field of AI and strengthen the country’s international position in this area.

Gilles Roth, Minister of Finance, highlighted the transformative potential of AI technology and congratulated BGL BNP Paribas for proactively addressing the opportunities and challenges it presents. He stressed that the bank’s initiative demonstrates the BNP Paribas Group’s commitment to leveraging the Luxembourg environment to develop and implement new technologies.

Paving the way for innovation

The collaboration between BGL BNP Paribas, the government and academic institutions illustrates Luxembourg’s commitment to fostering innovation and technological excellence. This project not only positions Luxembourg as a center for AI development, but also highlights the potential for international companies to leverage the country’s ecosystem for technological innovation.