Lloyds Banking Group has partnered with Cambridge Spark to improve its AI capabilities across its senior management teams.
Founded in 2016 by Dr. Raoul-Gabriel Urma, Cambridge Spark is a digital skills education provider.
In a company statement, Lloyds said its “Leading with AI” program will work with 200 senior executives at the firm. The project is said designed to boost transformation and to enhance its leadership in technological innovation.
The program launched on March 5th with the first cohort of 30 Lloyds Banking Group leaders who participated in a two-day session at the University of Cambridge.
Ron van Kemenade, Group Chief Operating Officer at Lloyds Banking Group, said that AI is a game-changer for financial services, and they aim to empower their business leaders to further innovate with AI and use this transformative technology.
“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.”
AI is already in use at many financial services firms, and the technology is expected to enable a growing number of services for customers. Meanwhile, AI continues to evolve, thus providing improved capabilities on an ongoing basis.