Lloyds Banking Group’s senior management team has embarked on a six-month training programme to further strengthen the organisation’s AI capabilities.

Starting this month, the bank is joining a bespoke programme developed through a partnership with edtech firm Cambridge Spark that will see over 200 senior leaders at the financial firm taking part in the training.

The initiative is part of a wider tech-focused strategy announced by the bank in January this year, with the firm unveiling plans to invest over £4 billion on a digital transformation designed to facilitate hyper-personalised services and seamless experiences.

Cambridge Spark is a UK-based edtech firm that specialises in providing data science and AI training. It offers a range of programmes designed to upskill professionals in data and AI such as AI & Data Apprenticeships programmes, online learning platforms, and advanced apprenticeships.

Its programme, called “Leading with AI” offers a mix of intensive in-person sessions, virtual masterclasses and tailored projects aimed at expanding participants’ leadership skills in the field of AI, with a specific focus on identifying and implementing AI technologies to boost operational excellence and customer experience.

The bank is currently engaged in several AI and technology initiatives, including a Data and AI Academy programme that offers comprehensive training to employees to improve their data and AI skills.

The company also offers masterclasses focused on genAI technologies and their applications in banking, and a Data & AI Summer School designed to provide intensive learning experiences in data science and AI.

The company has also established an AI Centre of Excellence that employs data scientists, machine learning engineers and data engineers to foster innovation.

"AI is a game-changer for financial services, and we're investing to enhance our services with cutting-edge technology,” said Ron van Kemenade, group chief operating office, Lloyds. “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."

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