Capital One and USC partner to drive responsible AI (CREDIF)

Capital One and the University of Southern California (USC) have announced the launch of the USC-Capital One Center for Responsible AI and Decision Making in Finance (CREDIF), a joint research center that will advance state-of-the-art research and foundations for algorithmic, data and software innovations in responsible AI and its applications to finance. 

The initiative, supported by a $3 million investment by Capital One, will explore how emerging technologies in AI and analytics can be applied to financial systems and services at scale and advance cross-disciplinary knowledge between finance and technology.

Prem Natarajan, PhD, EVP, Chief Scientist and Head of Enterprise AI at Capital One, spearheaded the development of the center with Gaurav Sukhatme, Director of USC’s School of Advanced Computing (SAC) and Executive Vice Dean of the Viterbi School of Engineering.

“At Capital One, we believe long-term, multi-sector partnerships like CREDIF are essential to building the future of inclusive and well-managed AI,” said Natarajan. “USC’s leading-edge faculty, students and research resources—in combination with Capital One’s mission-driven focus and world-class talent—create a unique opportunity to leverage AI to solve some of the most challenging problems in financial services and provide differentiated value to millions of customers.”

Sukhatme, who is also a professor of computer science and electrical and computer engineering at USC, added,  “This new center is emblematic of the fast-moving and far-reaching impact of computing today. Responsible, human-centered decision-making—a cornerstone of the USC School of Advanced Computing—is at its very heart.” 

Each year, the center will provide support for research projects focused on the development of cutting-edge technology and approaches to improve business and finance. USC faculty members will be invited to submit annual proposals for faculty-led research efforts. 

An annual fellowship for doctoral students, named Capital One Fellows, will equip students with the skills and knowledge needed to excel in the field of AI and ML in finance. Capital One and USC will also host annual joint research symposia and workshops to share insights with the wider community. 

"We are thrilled to partner with Capital One to advance responsible AI and Decision Making in Finance," said Yannis C. Yortsos, dean of the USC Viterbi School of Engineering. "The talented USC Viterbi students and faculty will use their outstanding technical computational competence to provide human and societal-centric financial decision-making. Such strong partnerships allow the development of extraordinary new solutions to real-world problems that help advance innovation, productivity and the pursuit of human flourishing."

Petros Ioannou, a professor of electrical and computer engineering, aerospace and mechanical engineering and industrial and systems engineering at USC, will serve as the center’s inaugural director.

“I am delighted to be part of this important research center, where cutting-edge computing and AI techniques will be applied to solving complex financial problems,” said Ioannou. “My priority is to motivate and attract researchers and PhD students and strengthen our capabilities in financial engineering. The potential for solving complex financial problems using computational techniques and AI is enormous.”

This partnership is the latest in Capital One’s growing network of leading academic institutions and partnerships aimed at advancing the future of AI and solving complex, industry-wide challenges. Capital One recently announced its membership in the Partnership on AI, as well as a new Center for AI and Responsible Financial Innovation (CAIRFI) with Columbia University. 

Other key academic and multisector partnerships include collaborations with the National Science Foundation (NSF) and the National Artificial Intelligence Research Institutes to facilitate research and strengthen our national capabilities in AI. These partnerships focus on areas such as advancing the grounding, instructability and alignment of future AI development. Additionally, partnerships with the University of Maryland - Center for Machine Learning; New York University - Tandon School of Engineering & Center for Data Science; Massachusetts Institute of Technology - Computer Science & Artificial Intelligence Laboratory; University of Virginia - School of Data Science; and University of Illinois Urbana-Champaign - Research Park have been established.

If you are interested in contributing to our research and technology development efforts that will drive the future of banking, learn more about our AI & ML initiatives and explore our open Applied Research and broader Tech career opportunities.