The rapid adoption of artificial intelligence (AI) in the financial sector has led to the appointment of two industry champions. These leaders are tasked with guiding UK financial firms in harnessing AI opportunities while ensuring consumer protection and financial stability.
New AI Champions Appointed
Harriet Rees from Starling Bank and Dr. Rohit Dhawan from Lloyds Banking Group will serve as AI champions in financial services. They report directly to Economic Secretary Lucy Rigby, aiming to implement AI advancements safely and effectively.
AI Adoption in the UK
Around 75% of financial firms in the UK have incorporated AI technology. This figure has increased significantly from just over half in recent years. Independent studies predict that AI could contribute tens of billions of pounds to the financial sector by 2030, enhancing service efficiency and customer interactions.
Objectives of AI Champions
- Accelerate the safe and scalable adoption of AI in financial services.
- Identify barriers hindering innovation and prompt quicker implementation of AI technologies.
- Ensure consumer protection and maintain trust in the financial system.
- Enhance productivity and competitiveness within the sector.
Experience and Responsibilities
Harriet Rees brings comprehensive expertise as the Group Chief Information Officer at Starling Bank, with a focus on technology strategy and operational resilience. Her involvement in the Bank of England’s AI Taskforce emphasizes her commitment to the future of AI in finance.
Dr. Rohit Dhawan, as the Head of AI and Advanced Analytics at Lloyds Banking Group, has shaped AI strategies since 2024. His work integrates data science and advanced analytics to enhance customer experiences and operational efficiency.
Looking Forward
Both champions express enthusiasm about their roles. Harriet Rees sees an opportunity for the UK to lead globally in AI innovation within financial services. Dr. Rohit Dhawan emphasizes the transformative potential of AI through responsible adoption.
Their appointments will take effect on January 20, 2026, and are deemed vital for ensuring that the UK maintains its standing as a leader in financial innovation.
Conclusion
The initiatives led by Rees and Dhawan underscore the necessity of balancing technological progress with the safeguarding of consumers and the financial ecosystem. This strategic focus is essential for the future growth and security of the UK’s financial services sector.
