BNP Paribas and Mistral AI have signed a multi-year agreement to provide access to current and future Mistral AI commercial models.

This follows a relationship going back to September 2023 when the global markets division started testing with Mistral AI.

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Since that time, BNP Paribas has been extensively piloting Mistral AI commercial models across several of the bank’s divisions.

In addition, Mistral AI works parallel to highly regulated institutions, facilitating controlled deployment of cutting edge models on premises.

“Our collaboration with BNP Paribas signifies a strong leap towards achieving Mistral AI’s mission of making AI accessible for all. We are pleased to be working so closely with their team, integrating our cutting-edge generative AI models into the banking ecosystem and so many of their business lines. I eagerly anticipate the expansion of our partnership, as we continue to develop innovative use cases that will redefine the future of financial services,” said Arthur Mensch, CEO, Mistral AI

“Our agreement with Mistral AI marks a major milestone in our digital strategy, and our ambition to be the number one European markets house. Generative AI has significant potential to enhance our client offering across sales, trading, research and more, and I am excited to continue our work with Mistral AI towards that goal,” added Olivier Osty, Head of BNP Paribas Global Markets

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“This partnership with Mistral AI marks a further step in developing hyper-personalised digital services for our customers. As an example, Gen AI will allow us to launch high quality virtual assistants to answer clients’ questions 24/7 and to simplify end-to-end processes, enhancing the way our teams support clients. Deploying Gen AI models within our infrastructure will ally the latest technology with our strong commitment for security,” commented Sophie Heller, Chief Operating Officer at BNP Paribas Commercial, Personal Banking & Services.

Also, BNP Paribas has appointed fresh hires within its executive committee and the company engagement department.

Commencing on 1 July 2024, Anne Pointet, will take over as BNP Paribas’ head of company engagement, replacing Antoine Sire, in both capacities as well as on the group’s executive committee.