Lloyds Banking Group has unveiled plans to enrol over 200 of its senior staff in an intensive 80-hour AI training programme at the University of Cambridge. The FTSE 100 bank has partnered with edtech firm Cambridge Spark for a customised six-month training course aimed at boosting AI proficiency across its management team.
The inaugural group of 30 Lloyds leaders attended a rigorous two-day session at the University earlier this month, which included a lecture by Professor Stelios Kavadias, an expert in innovation and technology management. These sessions, delivered by Cambridge Spark in conjunction with the University of Cambridge, are designed to identify opportunities through AI and implement AI solutions to improve operations and customer experience, as reported by .
This initiative builds on the existing partnership between Lloyds and Cambridge Spark, which has previously offered lessons in practical industry skills for budding data scientists and engineers. Lloyds' Group Chief Operating Officer, Ron van Kemenade, said: "AI is a game-changer for financial services, and we're investing to enhance our services with cutting-edge technology. " He added: "The programme with Cambridge Spark will empower our business leaders to further innovate with AI and drive commercial excellence using this transformative technology.
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"Our approach to AI is based on integrating it deeply throughout every aspect of our business rather than limiting it to a centralised technical team. We're building on our existing expertise to develop the most AI-capable leadership team in banking."
Dr. Raoul-Gabriel Urma, founder and CEO of Cambridge Spark, commented: "Advancing AI capabilities represents both the greatest challenge and opportunity for today's businesses. "
"Enhancing these capabilities within senior leadership creates a powerful multiplier effect that drives innovation throughout the organisation. We're excited to support Lloyds Banking Group in this strategic investment."
Lloyds has shown commitment to expanding AI and technology across its operations, marked by the launch of its 'AI Centre for Excellence' last year.
Rohit Dhawan, former Amazon executive who leads the centre, stated: "By staying at the forefront of AI technology and maintaining a strong ethical foundation, Lloyds Banking Group aims to lead the financial industry into a new era of digital transformation."
Last month, City AM reported that Lloyds had put approximately 6,000 jobs under review as part of an IT infrastructure overhaul, as the bank seeks to modernise its digital banking.