Lloyds Bank hires Amazon Web Services executive for first new AI director role

Lloyds Banking Group has hired a director for Amazon Web Services (AWS) as its first director of artificial intelligence (AI) and analytics.

Rohit Dhawan, who has led AWS’s data and AI strategy in the Asia Pacific region for almost four years, will help Lloyds transition to digital as the bank and its traditional rivals face challenges in keeping up with fast-growing fintech startups such as Monzo and Revolut.

Like many other companies, banks are looking to use AI to improve stagnant productivity growth and cut costs. Morgan Stanley also named a head of its AI group in March.

Dhawan will report to Lloyds’ chief data and analytics officer Ranil Boteju, who said the appointment represented a “significant boost to the strategic development of technology and AI capabilities” at Lloyds, as first reported by the FT.

“Rohit will work across the company to further integrate AI outcomes with business priorities, helping us scale AI in a coherent manner and execute our strategy,” Boteju added.

Lloyds said Dhawan will oversee the integration of AI into customer service and operational processes, create a new data and AI function within the bank, and lead an “AI Centre of Excellence” made up of experts in data science, behavioural science, machine learning engineering and AI ethics.

“It’s an honour to join Lloyds Banking Group and I look forward to working within an organisation undergoing one of the biggest transformations in financial services and to seeing how we can transform the way we use data and technology to respond to changing customer needs,” said Dhawan.