Lloyds Banking Group has added an AI “board bot” to its boardroom to help reduce bias in decision-making.
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The AI agent, developed by specialist Board Intelligence, is being used by the bank’s board to help them go through confidential information and prepare for meetings, and reduce human bias in decision-making.
The bot can also provide guidance across cybersecurity, sustainability, financial analysis, and mergers and acquisitions, according to the Times, which first reported the news.
Nicola Putland, corporate governance director, Lloyds, tells the Times: “We see real potential for AI to support decision making in boardrooms when used carefully and responsibly. We are trialling AI tools to support us to better prepare for discussions through faster analysis, and access to a broader range of perspectives.”
Board Intelligence CEO Pippa Begg says that while the agent is currently being used to help Lloyds executives prepare for meetings, in the future it could be present in these meetings with it “being able to almost interrupt and say: ‘Hang on, I think you’re falling into this trap.’ Or: ‘I disagree.’”