Lloyds adds another AI expert to senior leadership

AI
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Lloyds Banking Group has reinforced its commitment to AI by appointing Magdalena Lis as Head of Responsible AI.

In her new role, Lis will focus on using advanced AI technology to improve the bank’s products and services, while ensuring proper safeguards and controls are in place.

Lis brings over 15 years of AI expertise to the role, having previously advised the UK government on responsible AI and most recently served as Head of Analytics and Data Science at Toyota Connected Europe.

Commenting on her new position, Lis said: “AI represents a big opportunity for Lloyds Banking Group and I’m excited to be a part of the business. 

“The Group’s commitment and investment in the technology, and the opportunity to work with a broad range of industry experts, made the role very attractive. I’m looking forward to working towards unlocking the benefits of AI for Lloyds Banking Group and its customers.”

This move follows the appointment of Dr. Rohit Dhawan as Director of AI and Advanced Analytics last August. Since then, the conversation surrounding AI has shifted from simply adopting the technology to focusing on its regulation and safety.

Earlier this month, UK Prime Minister Keir Starmer delivered a speech about AI regulation, highlighting the government’s intention to prioritise growth. His approach involves a more relaxed regulatory stance in order to attract large tech companies to invest in the UK market.

Financial institutions play a key role in driving international investment. Lloyds seems to have taken note of this, having made a strategic move last year by partnering with Cleareye.ai, a US-based AI platform that specialises in compliance checks for trade finance documentation.

Dhawan stated: “AI has the potential to transform banking and we’re investing and recruiting at pace to lead the way. 

“While we continue to push the boundaries of GenAI to enhance our products and services for customers, it’s vital that we have the appropriate safeguards in place to ensure the technology is implemented ethically and safely. Magdalena will be instrumental to our transformation, bringing a wealth of experience in AI, and I look forward to working together.”