Lloyds Banking Group has appointed Rohit Dhawan as its inaugural Director of Artificial Intelligence and Analytics, bringing in expertise from Amazon Web Services.
In this newly created position, Dhawan will lead the bank’s AI Centre of Excellence, uniting specialists in data science, behavioral science, machine learning engineering, advanced analytics, and AI ethics. His mandate includes formulating the overarching AI and machine learning strategy for Lloyds, with the aim of enhancing the bank’s offerings for its 27 million customers through the adoption of AI-driven products and services.
Dhawan holds a PhD in artificial intelligence from the University of Sydney and joins Lloyds after serving as the head of data and AI strategy for the Asia-Pacific region at Amazon Web Services. During his tenure, he successfully led initiatives to incorporate AI into customer-facing and operational processes, while also forming a multi-disciplinary data and AI team.
Ranil Boteju, Chief Data and Analytics Officer at Lloyds Banking Group, commented on Dhawan’s appointment, stating, “Rohit’s expertise will significantly enhance our strategic approach to AI technology. His extensive experience in delivering technological advancements quickly and effectively will be invaluable as we work to seamlessly integrate AI solutions into our business objectives.”
At present, Lloyds is exploring over 50 AI use cases across various areas, focusing on improving support response times, enhancing chatbot capabilities, and proactively detecting potential fraud indicators.
This year alone, the bank has expanded its technology and data workforce by 1,500 specialists, bringing the total to more than 4,000 over the past two and a half years.
Expressing his enthusiasm for the role, Dhawan stated, "I’m thrilled to join an organization that is undergoing one of the most significant transformations in the financial services industry and to explore how we can leverage data and technology to meet evolving customer expectations."
For those interested in the implications of AI in the banking sector, consider attending Finextra’s inaugural NextGenAI conference scheduled for November 26, 2024. Register your interest here.