Lloyds Banking Group said that all customer interactions will be supported by artificial intelligence (AI) by 2030 as the bank targets £100m in value generation.
The announcement came as the bank’s CEO outlined the firm’s Accelerate 2030 Strategy, following its latest financial results. As part of this, it aims to cut another £2bn in costs over the next four years with AI technology a key enabler. This is on top of the same amount over the previous four years, which has contributed to a 23% increase in profits, which reached £4.2bn in the first half of 2026.
Speaking after announcing its latest financial results for the first half of this year, the bank’s CEO, Charlie Nunn, said: “Every part of the group has a clear AI-enabled strategy that will further enhance our ability to differentiate our services, grow and deliver improved productivity. By 2030, we expect AI-powered tools will support every customer interaction and all of our colleagues.”
AI use has moved beyond simple customer support interactions. For example, the bank is already offering an AI investment advice platform within the Scottish Widows app, which will be extended to its retail banking app. It is designed to provide targeted advice to customers, and it aims to help reach one million new smaller investors.
Currently, half of AI investments are focused on productivity, efficiency and risk management improvements the remainder spent on growing revenue.
Nunn said: “[Lloyds Bank is] on course to deliver more than £100m of value from generative and agentic AI in 2026, with substantial benefits driving our revenue growth and efficiency in Accelerate 2030. We expect to remain at the forefront of this change and are extremely well equipped to realise value given our scale leadership and starting position.”
Lloyds is planning to prepare its staff with the right skills to work with AI. Nunn said: “In the next phase, we’ll further build out our in-house expertise through a constant commitment to colleague upskilling alongside targeted hiring.”
In January, the bank announced plans to train all 67,000 of its employees on how to use AI this year through its AI Academy, with the aim of reaching its target of all staff being AI literate by the end of this year.
It said the 300 agentic AI roles will be filled both from within the existing bank workforce and externally. It includes data and AI scientists, engineers, responsible AI specialists and AI product managers.
Reskilling staff to work with AI is vital. According to a report last year from banking industry benchmarking firm Evident, AI-related roles could be the only “safe jobs” in the banking sector as financial organisations “relentlessly” press on with AI-led transformation. In the report, it said one in 50 employees recruited by the top 10 banks now work in AI-related roles.
According to the bank’s own Financial institutions sentiment survey for 2025, banks are gaining huge benefits from AI, with 59% of surveyed firms reported AI-driven productivity gains in the past 12 months, compared with 32% in the 2024 survey.
