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NatWest to Train 60,000 Staff on the Ethics of AI

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NatWest Group has disclosed its most substantial yearly profit since the period just preceding the financial crisis in 2007.

NatWest is to put its entire 60,000-strong workforce through training on the ethical risks of artificial intelligence, as the high street lender races to weave the technology through every corner of its operations.

The FTSE 100 bank said the course, which will take staff two to three months to complete, is designed to build “a strong culture of responsible AI” as the tools move from the margins into day-to-day banking. It draws on a programme NatWest first developed with the University of Edinburgh, now being opened up to the whole business as more colleagues reach for the technology.

The roll-out lands at a moment when Britain’s banks are competing hard to show they can deploy AI faster and more responsibly than their rivals. Barclays and Lloyds have both joined the Financial Conduct Authority’s live AI testing sandbox, and Barclays has said it will lean heavily on the technology as it targets £2bn of cost cuts by 2028. NatWest, for its part, has already upgraded its AI chatbot to offer more “human” interaction as it continues to shut branches.

The thinking is straightforward enough. Lenders hope AI will sharpen the productivity of their people and strip cost out of the business. Yet that same promise has stoked fears that large numbers of jobs could be automated away, and raised thornier questions about how staff use a powerful technology safely and fairly.

Paul Dongha, who runs NatWest’s AI strategy, said the bank wanted to “equip colleagues with the skills and confidence to use it responsibly” as AI became “increasingly embedded in how we serve customers and run our bank”. The course, he added, would hand employees “even more practical tools to recognise risks, ask the right questions and make better decisions in their day-to-day roles”.

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The training itself was built in partnership with the University of Edinburgh’s Edinburgh Futures Institute, whose AI and data ethics programme for NatWest blends classroom teaching on AI fundamentals with sessions on data privacy, regulation and the wider implications for society and business. Having first run the course for leaders and selected colleagues, the bank is now extending it across the group, part of a broader push to build an AI-literate workforce.

The drive comes from the top. Paul Thwaite, the chief executive, has positioned NatWest at the front of the industry’s scramble to adopt AI. Speaking at The Times CEO Summit, he said “the economic prize for the country, but also for businesses like mine, is how quickly and how effectively you can adopt it”, arguing that the technology was “cutting across all lines of our business. I don’t think there’s a role that isn’t really affected.”

Thwaite was candid about what that means for jobs. While AI can lift the output of white-collar staff, there are real concerns it will replace many of them outright. In time, he told the summit, “there will be roles that currently exist that absolutely to all intents and purposes [will be] delivered by AI”. That warning chimes with a wider squeeze on entry-level work, with junior roles in finance and accounting among those hit hardest as employers cut graduate hiring and turn to AI.

NatWest’s own make-up has already shifted markedly. More than a quarter of the group’s employees now work in software engineering, a striking figure for an institution still thought of by most customers as a place to keep their current account. For a bank betting that the next phase of growth runs through automation, teaching 60,000 people how to use the technology wisely looks less like a nicety and more like a necessary insurance policy.

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Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Summit Therapeutics: High-Volatility, Catalyst-Driven Binary Bet (NASDAQ:SMMT)

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Summit Therapeutics: High-Volatility, Catalyst-Driven Binary Bet (NASDAQ:SMMT)

This article was written by

I would describe myself as a barbell investor focused on two ends of the risk spectrum: relatively safe, income-generating investments on one side, and high-risk, high upside opportunities—primarily binary healthcare and biotech bets—on the other. Professionally, I work as an R&D researcher in the pharmaceutical industry. Combined with my background in economics and self-training in finance, this provides me with unique perspective when evaluating biotech companies. My research spans multiple dimensions of the sector, including platform technologies, IP and freedom-to-operate considerations, mechanistic feasibility, competitive landscapes, binary clinical trial readouts and corporate financials. As an individual investor, I place significant emphasis on valuation, risk management and capital allocation. On the income-investing side of the portfolio, I actively follow dividend paying stock picks, including preferred shares, REITs, BDCs and option-based income ETFs. The objective is to build a durable stream of cash flow that can support moonshot bets on the other side of the barbell. Through my writing on Seeking Alpha, I aim to share independent, research-driven investment ideas from both ends of this barbell approach. My goal is to combine scientific insight, fundamental analysis and risk management to encourage disciplined trading and develop well-grounded investment thesis.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SMMT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Form 4 The York Water Company For: 22 June

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Form 4 The York Water Company For: 22 June

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The long tail of Trump’s trade agenda

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The long tail of Trump’s trade agenda

Industry experts say the latest proposals are designed to outlast court challenges, political cycles and administrations. 

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Schwebel Baking set to shut down

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Schwebel Baking set to shut down

Longtime commercial baker to wind down operations over the summer.

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Occidental Offers A 25% Upside At $70 Oil

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Occidental Offers A 25% Upside At $70 Oil

Occidental Offers A 25% Upside At $70 Oil

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Amazon Prime Day expected to drive $26.3 billion in online sales

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Amazon Prime Day expected to drive $26.3 billion in online sales

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Alan Greenspan, architect of the modern American economy, dies aged 100

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Alan Greenspan, architect of the modern American economy, dies aged 100

As chairman of the Federal Reserve, Alan Greenspan became the world’s most high-profile banker.

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Medical Properties: Strong Recovery Potential (NYSE:MPT)

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Medical Properties Trust: High Safety Margin

This article was written by

I am interested in a lot of technology and AI stocks like Google, Nvidia, AMD, Tesla and Amazon.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MPT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Former Federal Reserve chair Alan Greenspan dies

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Former Federal Reserve chair Alan Greenspan dies

Alan Greenspan, former chair of the board of the governors of the Federal Reserve System, died on Monday at the age of 100 years old, according to a statement from his wife Andrea Mitchell, NBC News chief Washington correspondent and chief foreign affairs correspondent.

”Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease,” Mitchell said in the statement.

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“He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,” she continued. “To me he was my husband, who shaped my life from our very first date in 1984. “

Alan Greenspan

Alan Greenspan Visits “The Daily Briefing” at Fox News Channel Studios on October 17, 2018 in New York City.  ( Steven Ferdman/Getty Images / Getty Images)

“He had ‘irrational exuberance’ for baseball, the Washington Commanders, tennis, golf and music, especially jazz. He will be remembered for his brilliance and his kindness,” Mitchell noted. “Being his life partner was the joy of my life.”

Fox Business Network’s Edward Lawrence contributed to this report

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BIGBANG’s Daesung Denies Dating Rumors With KARA’s Hur Youngji After Concert Sighting

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(Left to right) T.O.P, Seungri, Taeyang, Daesung and G-Dragon of Big Bang attend the Hyundai Card Collaboration With YG Entertainment in Seoul, June 5, 2012.

BIGBANG’s Daesung and KARA’s Hur Youngji have denied dating rumors. Recently, dating rumors between the two surfaced when they were spotted appearing close at MAMAMOO’s concert.

Where the Rumors Started

The speculation began after the two were photographed sitting near each other at the concert, with Daesung seated alongside Hur Youngji and Oh My Girl’s Hyojong among the attendees. A social media post sharing photos from the event quickly drew widespread attention, with fans noting the pair appeared close and cozy while looking at a phone together before the concert began.

The moment took on added significance for longtime fans given a previous on-air comment. Daesung has interacted with both idols on his YouTube show, however fans recalled that after Youngji’s appearance on the program, fellow BIGBANG member Taeyang had commented that the two would “hit it off.” Comments on the resurfaced video also playfully “shipped” the two together based on their interactions, with many online joking that the pair appeared to be on a “date.”

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The Agency’s Response

In response to the rumors, a source from Daesung’s agency R&D Company clarified the nature of the relationship. “They became closer after ‘ZIP DAESUNG,’ and they went to watch MAMAMOO’s concert together. They are just close peers, and the dating rumors are not true,” the representative said.

A separate statement to CBS Nocut News offered a similarly direct denial, with a representative from Daesung’s agency describing the two as simply “close colleagues,” quickly shutting down speculation about a romantic relationship.

How They First Met

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The connection between Daesung and Youngji traces back to her appearance on his variety program. Previously, Hur Youngji starred on an episode of Daesung’s YouTube program “ZIP DAESUNG,” which marked the beginning of their relationship as friends and colleagues in the industry.

Daesung’s Recent Activities

The dating speculation arrives during an especially active period for Daesung professionally. In April, BIGBANG took the stage at Coachella as a full group — G-DRAGON, Taeyang, and Daesung together — for the first time, a set that doubled as the opening signal for the group’s 20th-anniversary world tour.

Youngji’s Upcoming Projects

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Heo Youngji, for her part, has also been keeping active on the variety front. She’s set to appear as a storyteller on the reality-based thriller talk show “The Psychopath I Met,” premiering July 12, giving her a notable new platform separate from her music career with KARA.

A History of Playful Speculation Involving Daesung and KARA

This isn’t the first time Daesung’s interactions with KARA members have generated fan speculation about a possible romance. His YouTube program previously featured a separate segment involving fellow KARA member Kang Jiyoung, during which the two participated in a playful blind-date format episode that similarly fueled fan theories and online discussion about potential chemistry between them, separate from the more recent rumors involving Youngji.

That pattern of fan speculation surrounding Daesung’s appearances with various KARA members reflects a broader, long-running fan interest in potential connections between BIGBANG and KARA, two groups whose members have appeared together on variety programming on multiple occasions over the years.

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For Now, the Rumors Have Been Put to Rest

By the agency’s account, the two are just close colleagues who happened to catch a concert together, friends in tow. With both Daesung’s representatives and the broader official response framing the relationship strictly as a professional friendship, the latest round of dating speculation appears to have been resolved, at least for now, through the agency’s direct denial.

With Daesung continuing preparations for BIGBANG’s ongoing 20th-anniversary world tour and Youngji preparing for her upcoming role on “The Psychopath I Met,” both artists appear focused on their respective professional commitments in the weeks ahead. Given the pattern of recurring fan speculation surrounding Daesung’s variety show appearances with various KARA members, however, it remains likely that any future public appearances together will continue to draw attention and renewed rounds of dating chatter from fans, regardless of the most recent denial from his agency.

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