Looyds banking group is training 200 of its seniors to ensure the organization can get the most out of artificial intelligence (Ai) Technology. The bank is working with training provider cambridge spark on the program, which will embed Ai skills in the Leadership Ranks.
Participants of the program will receive training in an 80-hour program, Known as leading with Ai, delivered by Cambridge Spark AlongSide Experts from Cambridge UNIVRIDGE UNIVISITY.
Ron Van Kemenade, Chief Operating Officer at Lloyds Banking Group, Said: “Ai is a game-chal for financial services, and we're investment to enhance our services with cutting-edge-edge-edge technaology. Program with Cambridge Spark Will Empower Our Business Leaders to Further Innovate with Ai AI and Drive Commercial Excellence Using This Transformative Technology.
“Our Approach to AI is Based on Integrating it Deeply through every aspect of our business raather than limiting it to a centralized Technical team. Develop the most ai-capable Leadership team in banking. “
Lolyds bank has also made investments in ai training beyond seniors with a data & ai academy, genai masterclasses and a data & ai summer school available to all its Employees. It has worked with cambridge spark before on a graduate bootcamp focused on Practical Industry Skills for Emerging Data Scientists and Data Engineers.
Leading on Ai
For the Senior Leaders, The Leading with Ai Program will Focus on Areas Including Identibing Transformational Opportunities for Ai And spearheading its implementation.
Raoul-Gabriel Urma, CEO at Cambridge Spark, Said That Embedding Ai Know-HHOW at the top of Organizations is Vital: “Advanceing Ai Capabilities Represents BOTH The Greatest Challenge and Opportunity For Today's Businesses
The bank of england and the fca have been tracking how financial services firms in the uk are using ai and machine learning. The results of its recent survey, which covered 120 firms, found that three-certainers are already using some form of ai in their operations. This included all the large UK and International Banks, Insurers and Asset Manners that Responded, And Reporated A 53% Increase on the Same Survey in 2022.
There will be challenges for Senior Bank Leaders who must undersrstand the Risks that AI poses as well as its benefits, as they will be expected to work with the regulatory regulations.
DURING An International Financial Conference In October, Sarah Breeden, Deputy Governor of Financial Stability at the Bank of England, said that regulation must have ahead of ahead of ai take-up.
She said this will “help us to undersrstand more deeply not only ai's potential benefits, but also Risks ”.
The regulator will then try to spores the best practices and decide when regulatory guidelines and guardrails are needed. “The power and use of ai is growing fast, and we must be compressant,” Said Breeden. “We Know from Past Experience with Technological Innovation in other sector of the economy that it's hard to retrospectively address risk usage usage usage usage usage usage Systemic SCALE.”