UK Bank Lloyds To Put Its Leadership Team Through A New AI Training Program
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Lloyds Banking Group recently surprised everyone by creating an AI training program for its leadership team, calling in edtech Cambridge Spark to help with this task.
The bank’s idea is to create and run an AI training program for its senior leaders who are believed to lack adequate knowledge and experience with artificial intelligence, which is becoming more and more present in everyday life, banking included.
The UK giant will put over 200 people through this program, which is expected to last for around six months, featuring 80 hours of learning with AI. This comes as part of the bank’s larger goal of making the most out of the current AI revolution, which is something that most financial institutions around the world have been doing for a few years now.
Another step toward getting a hang of AI came last summer when Lloyds hired a former AWS executive, Dr. Rohit Dhawan, having him fill the position of director of AI and advanced analytics back in August 2024. The new executive was in charge of overseeing a team of 200 specialists, totaling in over 30 PhDs in relevant fields at the bank’s Center of AI Excellence.
Why Is AI Training Needed?
Given the fact that AI is the new technology that is expected to completely transform the way banks operate in due time, Lloyds is now getting ready for the next step, ensuring that its top brass are up to speed.
To this extent, it launched a new program that will involve intensive in-person sessions with virtual masterclasses and applied projects. The focus will be on identifying new opportunities through AI, and spearheading the implementation of AI to increase operational excellence, as well as customer experience.
Lloyds Group’s COO, Ron van Kemenade, said that AI is a game changer for financial services and that the bank is already investing to enhance its own services with cutting-edge technology. “Our approach to AI is based on integrating it deeply throughout every aspect of our business rather than limiting it to a centralized technical team. We’re building on our existing expertise to develop the most AI-capable leadership team in banking,” he added.
Now, Cambridge park was brought in to assist in running a specialized graduate bootcamp for senior management, focused on practical industry skills, enhance their capabilities, and drive innovation.
