Capital One and Columbia University Launch Center for AI and Responsible Financial Innovation

New Partnership Will Advance Industry-Leading AI Research and Education

Mar 20 2024
Capital One and Columbia Engineering Logos

Capital One and Columbia Engineering are partnering to establish the Center for AI and Responsible Financial Innovation (CAIRFI) to accelerate research, education, and the responsible advancement of state of the art AI in financial services.

Capital One will invest $3 million to support the initiatives of the Center, which include PhD fellowships awarded annually to students at the Engineering School; faculty-led research projects in collaboration with post-doctoral researchers, and undergraduate and graduate students and staff; and research events and activities to evolve and advance AI research with a focus on local community engagement such as publicly accessible research symposia.

“Capital One is driven by a mission to change banking for good by helping improve the financial lives of millions of customers,” said Prem Natarajan, EVP, Chief Scientist, and Head of Enterprise AI at Capital One.

“Throughout our history, we have taken a rigorous and thoughtful approach to technology development to help us unlock insights, make decisions, and drive innovation and value for customers. We are thrilled to partner with Columbia to create the Center for AI and Responsible Financial Innovation to advance and unlock new, well-managed AI capabilities to support our mission-driven focus and contribute to well managed, industry-leading advances in the field.”

This launch of the Center will deepen Capital One’s existing partnership with Columbia University, and is part of a broader push to build interdisciplinary networks and partnerships that advance research and theory in applied state of the art AI.

“AI is transforming all sectors of society and financial services is a fast-growing area where responsible approaches need to be studied, developed, and implemented,” said Shih-Fu Chang, Dean of Columbia Engineering. “This partnership with Capital One is the type of collaboration needed to share insights that will spur innovation to advance financial well-being and social progress. Through joining our strengths in responsible AI, data science, and financial and computational engineering with Capital One’s leadership in financial products and services and commitment to financial inclusion, we see great potential for research and education that will make a real impact.”

The Center will hold a kick-off workshop on Thursday, March 28 to gather together researchers to share insights into their respective areas of expertise and learn and discuss mutual areas of interest. The event will also feature lightning talks from Columbia and Capital One scientists, as well as roundtable discussions.

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