Lloyds: AI to support every customer interaction by 2030

Lloyds Banking Group outlined a plan for artificial intelligence to support every customer interaction by 2030 as it published first-half 2026 results. Chief executive Charlie Nunn presented the bank’s Accelerate 2030 strategy as pre-tax profit rose 23% to £4.2bn.

The group plans to reduce costs by a further £2bn over the next four years, on top of a similar cut in the previous four years, and identifies AI as a core technology to deliver efficiency gains.

Lloyds expects to generate more than £100m from generative and agentic AI in 2026 and to use AI tools across customer service and staff workflows. 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.”

The bank is already using AI beyond basic customer support. An AI investment advice feature is live in the Scottish Widows app and is scheduled to be added to the main retail banking app. The feature is designed to provide targeted advice and the bank aims to reach up to one million smaller investors.

About half of current AI spending is allocated to productivity, efficiency and risk management, with the remainder directed at growing revenue.

Lloyds has launched an AI Academy and plans to train all 67,000 employees to be AI literate by the end of the year. Staff have completed 400,000 AI courses since January. The bank plans to create about 300 agentic AI roles, combining reskilling of existing employees with external hires. Roles will include data and AI scientists, engineers, responsible AI specialists and AI product managers.

The bank’s Financial Institutions Sentiment survey for 2025 found 59% of respondents reported AI-driven productivity improvements in the prior 12 months, up from 32% in 2024. A separate benchmarking report noted one in 50 new recruits at the top 10 banks now work in AI-related roles.

Lloyds expects the planned cost reductions and revenue gains linked to AI to contribute to its wider Accelerate 2030 targets.