Lloyds Banking Group is sending its chief executive Charlie Nunn and senior leadership team through a six-month AI bootcamp in collaboration with Cambridge Spark and experts from the University of Cambridge.
The initiative aims to help executives reimagine the future of banking through generative AI, signaling Lloyds’ deep commitment to adopting advanced technologies.
More than 300 senior managers across the group will participate in the bespoke programme, designed to embed AI skills at the heart of strategic decision-making.
More than 110 Lloyds bosses have already completed the 80-hour course, which launched in March and takes six months to do.
The entire executive committee, which includes Mr Nunn, finance chief William Chalmers and Scottish Widows boss Chirantan Barua, are expected to complete the programme by the end of 2026.
Lloyds has been accelerating its shift to online banking and shutting more of its UK branches. The bank has also announced Bristol as its “AI capital” of the UK, with the largest concentration of experts on the technology in the city.
Responding to the news, Kenny MacAulay, CEO of Acting Office, a software platform for accounting practices, said: “Mastering AI should be a top priority for every CEO, particularly with the financial services industry facing seismic and existential challenges due to the proliferation of the technology. Whether it’s the big banks or large accountancy firms, mastering disruptive technology to streamline services, reduce overheads and deliver better customer services should be at the very top of the boardroom agenda.”
AI expert Raj Abrol, co-founder and CEO of Galytix, which works with several large banks, said: “For every CEO in the banking industry, being equipped with the latest knowledge about AI capabilities is no longer a nice to have, it’s an essential part of the job description. The task of juggling increasingly complex regulation, managing risk and adhering to data protection and privacy rules can only be achieved with the high-quality technology, insights, and capabilities. With this in mind, senior leaders should prioritise training and investment in AI, in order to stay ahead of the competition.”
It has grown a team of nearly 1,300 tech specialists, while hundreds of apprentices and graduates joined last month. Lloyds has been accelerating efforts to boost its digital services and focus on AI, which can be used for many banking processes.
