According to Lloyds, two out of three financial institutions are already investing in AI. Discover why at Finextra’s inaugural NextGen: AI event this November.
Join us on 26 November at NextGen: AI in London, where we will explore AI’s impact and future in financial services with leading thought leaders in the industry.
Lloyds’ latest banking sentiment report indicates a significant shift in attitude towards AI over the past year. This has led to a doubling of AI investment in 2024 compared to 2023 as greater adoption and recognition of its benefits continue to grow.
Commenting on the report, Rohit Dhawan, director of AI and advanced analytics at Lloyds Banking Group, stated: “Artificial intelligence is rapidly reshaping the financial landscape, and what we’re seeing is just the beginning. Growing investments from financial institutions and increasing partnerships in AI demonstrate a clear commitment to leveraging this technology. From automating complex processes to unlocking insights that improve decision-making, AI is enabling institutions to reimagine what’s possible. We are witnessing an exciting period of transformation, and it’s inspiring to consider the advancements that lie ahead for the sector.”
Financial institutions are expanding their operations as well. NatWest, for instance, has identified over 100 use cases across the bank and noted that 15% of its analytical models already utilize traditional AI.
Sandra Blaga, strategy and innovation manager of AI delivery at NatWest, will join a panel at NextGen: AI on 26 November in London to discuss effective AI deployment within financial institutions.
Join us along with 300+ thought leaders and industry peers to explore the next era of AI and unlock the full potential of this transformative technology.