Lloyds Banking Group has hired an Amazon Web Services (AWS) executive as its first group director of artificial intelligence (AI) and analytics.
Rohit Dhawan, who has led AWS’s data and AI strategy in the Asia-Pacific region for nearly four years, will help Lloyds in its shift to digital as the bank and its traditional rivals try to keep up with fast growing fintech startups such as Monzo and Revolut.
Like many other businesses, banks are looking to use AI to improve stagnant productivity growth and cut costs. Morgan Stanley also appointed a group head of AI in March.
Dhawan will report to Lloyds’ chief data and analytics officer Ranil Boteju, who said the appointment is a “significant boost for the strategic development of Al technology and capabilities” at Lloyds.
“Rohit will work across the business to further integrate Al outcomes into business priorities, helping us to scale Al in a consistent way and deliver against our strategy,” added Boteju.
Lloyds said Dhawan will oversee the integration of AI into customer and operational processes, create a new data and Al function within the bank and direct an “Al Centre of Excellence” comprised of experts in data science, behavioural science, machine learning engineering and Al ethics.
“It’s a privilege to join Lloyds Banking Group, and I’m excited to work for an organisation undergoing one of the largest transformations in financial services and look at how we can transform the way we use data and tech to respond to changing customer needs,” said Dhawan.