Press release
L&G launches new AI for Business Value programme in partnership with Multiverse
The scheme will upskill 50 employees in AI capabilities to drive efficiencies.
30 Jan 2025
Full press release
L&G has launched a new Artificial Intelligence (AI) for Business Value programme for 50 colleagues in partnership with education technology company Multiverse. The initiative is part of L&G’s drive to adapt to the global changes that accelerating AI technology has brought forward in recent years.1
AI adoption is estimated to significantly boost labour productivity growth in financial and professional services over the coming years; the City of London Corporation estimates a boost of 12% by 2025 and of 50% by 2030.2
Being that the investment management sector has the potential to embed AI in nearly every one of its functions,3 the Financial Conduct Authority and other regulatory bodies have put a focus on the safe development and deployment of AI.4 Through the AI for Business Value programme, L&G will equip its employees with the tools needed to responsibly adopt AI in the workplace, as well as taking advantage of potential productivity gains.
Derrick Hastie, Chief Technology Officer, Asset Management, L&G: “We are very excited to provide an opportunity for our colleagues to earn a professional qualification in AI through a business lens. This apprenticeship will help our participants to recognise growth opportunities and leverage AI technologies; creating strategies that can be implemented across L&G’s capabilities. Having completed an apprenticeship early on in my career, I am a huge advocate of continuous professional development. Through this programme, we want to support our colleagues’ professional aspirations whilst building a wide net of tech skills that will be key for change resilience.”
Throughout the 13-month course, funded by the apprenticeship levy, participants from across the business will learn to better leverage L&G’s technology tools to develop a robust AI strategy; developing tangible benefits that will drive business value through cost savings, improved operational efficiency, and automated manual processes.
The training will be delivered by Multiverse, a tech company that specialises in high-quality training through applied learning. Multiverse has trained more than 20,000 apprentices at over 1,500 organisations in data, AI, and digital skills since 2016.
Gary Eimerman, Chief Learning Officer, Multiverse: “L&G is an organisation built on principles of responsible investment for long term growth, an ethos reflected in its staff development strategy. By equipping its teams to make responsible data-led decisions, L&G can enhance operations and ensure security and protection in the fast-evolving digital workplace.”
As part of the Investment Association’s Technology Working Group, L&G has already played a key role in assessing the ways in which UK asset managers are already leveraging AI to drive efficiency, automating routine tasks to boost productivity, and improving the quality of products and services offered.
References
1A timeline of technology transformation: How has the pace changed? | World Economic Forum
2Can AI actually increase human productivity? | World Economic Forum, The future of AI & the workforce
3Technology Working Group AI Report Oct 2024.
4AI Update, A pro-innovation approach to AI regulation - GOV.UK
Further information
LGIM PR Team
