The boss of Barclays has set out plans to use artificial intelligence to help drive the next leg of his turnaround of the bank as he targets about \u00a32 billion of cost cuts over three years. <\/p>\n
C.S. Venkatakrishnan, the lender\u2019s chief executive who is known as Venkat, on Tuesday said the bank aimed to hand back more than \u00a315 billion of surplus capital to shareholders by the end of 2028 as he pushes into the next phase of his shake-up of the group.<\/p>\n
The capital returns objective was one of several new three-year targets set by Barclays, which also included a goal of delivering about \u00a32 billion of gross efficiency savings over the period. <\/p>\n
\u2022 Barclays boss opens up on cancer diagnosis as he backs health bot<\/a><\/p>\n Venkat said: \u201cWe will invest further to improve customers\u2019 experience and deepen relationships, while harnessing new technology, including AI<\/a>, to improve efficiency and build segment-leading businesses and drive further growth.\u201d <\/p>\n It comes two years after Venkat set out his original three-year plan to revamp Barclays, which has involved rebalancing the group away from its big investment banking division<\/a>, where returns can be volatile. <\/p>\n His revamp encompasses a push to grow its retail, corporate and private banking operations in Britain but it has now been twice thwarted in its attempt to expand its operations here through takeovers. <\/p>\n