UMVA has learned that NatWest is taking a pioneering step in the banking industry by committing to train its entire 60,000-strong workforce on the ethical risks of artificial intelligence.
The comprehensive course, designed to build "a strong culture of responsible AI," will take staff two to three months to complete and marks a significant move as the high street lender integrates AI into every aspect of its operations. This initiative draws on a programme NatWest developed with a leading academic institution.
NatWest's bold move comes as Britain's banks are fiercely competing to deploy AI faster and more responsibly than their rivals. Several major banks have already joined a live AI testing sandbox, and one bank has announced plans to leverage AI for substantial cost cuts by 2028.
By upskilling its workforce, NatWest aims to "equip colleagues with the skills and confidence to use [AI] responsibly" as the technology becomes increasingly integral to serving customers and running the bank. The course will provide employees with practical tools to recognise risks, ask the right questions, and make better decisions.
The training programme, built in partnership with a renowned academic institution, combines classroom teaching on AI fundamentals with sessions on data privacy, regulation, and the broader implications for society and business. Having initially rolled out the course for leaders and selected colleagues, NatWest is now extending it across the group.
NatWest's CEO has positioned the bank at the forefront of the industry's AI adoption, emphasising that the economic benefits of AI are substantial and that the technology will impact virtually every role. He candidly acknowledged that AI may replace certain jobs, echoing concerns about the impact on entry-level work in finance and accounting.
NatWest's own workforce has already undergone a significant transformation, with over a quarter of employees now working in software engineering. As the bank bets on automation for future growth, investing in teaching 60,000 people how to use AI wisely appears to be a vital insurance policy.
