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 discuss AI’s impact and future in financial services with the most prominent thought leaders in the industry.
According to Lloyds’ latest banking sentiment, there has been a significant shift in attitude towards AI over the last year. Greater adoption and greater recognition of its benefits have led to a doubling of AI investment in 2024 compared to 2023.
Commenting on the results of the report, Rohit Dhawan, director of AI and advanced analytics at Lloyds Banking Group, said: “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 everywhere are scaling their operations. NatWest, for example, has identified more than 100 use cases across the bank, and has stated that 15% of the bank’s analytical models already use traditional AI.
Sandra Blaga, strategy and innovation manager of AI delivery at NatWest, will appear on a panel at NextGen: AI - on 26 November in London - to talk about how financial institutions can effectively deploy AI within their organisations.
Join us and 300+ thought leaders and industry peers to explore the next era of AI and how the technology’s full potential can be unlocked.
Learn more about NextGen: AI and register here.