Lloyds sends 200 senior staff to Cambridge University for AI bootcamp
Lloyds Banking Group has set out plans to send over 200 senior employees on an 80-hour AI bootcamp at the University of Cambridge.
The FTSE 100 lender has joined with education technology firm Cambridge Spark for a “bespoke six-month training programme” to enhance AI capabilities across its management.
The first cohort of 30 Lloyds leaders participated in an “intensive two-day session” at the University earlier this month, which included a session with Professor Stelios Kavadias – a specialist in innovation and technology management.
The sessions, delivered by Cambridge Spark in collaboration with the University of Cambridge, focus on identifying opportunities through AI and implementing AI solutions to enhance operations and customer experience.
They build on Lloyds and Cambridge Spark’s existing partnership, which has included lessons in “practical industry skills for emerging 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.
“The programme with Cambridge Spark will empower our business leaders to further innovate with AI and drive commercial excellence using 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.”
Dr. Raoul-Gabriel Urma, Cambridge Spark’s founder and chief executive, said: “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 committed to AI and technology expansion across its operations, with the launch of its ‘AI Centre for Excellence’ last year.
Former Amazon executive Rohit Dhawan, who heads up the centre, said: “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 PM revealed Lloyds had placed some 6,000 jobs under review as part of an overhaul in its IT infrastructure as the lender looked to modernise its digital banking.