Lloyds to recruit 300 AI specialists

Tools to combat fraud and provide more personalised digital banking services in development

Lloyds Banking Group is set to recruit nearly 300 AI specialists as it expands its investment in emerging AI technologies.

The bank said the new hires would focus on developing and deploying "agentic AI" systems across different parts of the business by September.

The recruitment campaign includes roles such as data scientists, AI engineers, responsible AI specialists and product managers, with positions being filled through a mix of internal promotions and external hiring.

More than 700 Lloyds employees are already working on AI-related projects, while the bank plans to create over 1,000 AI-focused roles next year as part of a broader technology expansion programme.

Projects under development

Among the projects under development are tools designed to combat fraud and scams, improve internal document searches, and provide more personalised digital banking services.

Customers could eventually use AI-powered assistants to analyse spending habits, receive tailored financial guidance and ask questions about savings or investment products using everyday language.

"AI is becoming an increasingly important part of how we support customers and how we work across Lloyds Banking Group," said Sharon Doherty, the bank's Chief People and Places Officer.

"As we scale its use, our focus is on making sure it delivers real benefit in day-to-day roles, helping colleagues make better decisions and enabling us to provide faster, more effective and more personalised support for customers."

Job reductions in some areas

The hiring push comes despite warnings that wider adoption of AI could ultimately reshape the bank's workforce.

Trystan Davies, Lloyds' Group Head of Data and AI Science, said AI would transform organisational structures and the nature of many jobs.

"It will change roles and how we work, and we are investing in training for colleagues through that transition," he said.

CEO Charlie Nunn previously acknowledged that the technology could lead to job reductions in some parts of the business. In January, he said AI would require the bank to "reduce some jobs in some areas" as automation becomes more widespread.

Investing in AI

Banks worldwide are investing heavily in AI tools to increase efficiency and improve profitability.

Earlier this year, Standard Chartered announced plans to cut 7,000 jobs, citing AI among the factors behind the restructuring. Meanwhile, Spanish banking giant Santander has said automation could help it save hundreds of millions of pounds over the coming years while expanding access to AI tools across its global workforce.

Lloyds says its own AI programme is already delivering measurable results. The bank reported that generative AI technologies contributed around £50m in financial benefits last year and expects those gains to double in 2026 as more advanced AI systems are introduced.

The lender is also seeking to develop future AI talent through one of the UK's first Level 6 AI Engineering apprenticeship programmes offered by a bank. A group of 33 apprentices will join the scheme this year across Lloyds' UK operations, combining workplace experience with specialist qualifications.

The recruitment drive comes just weeks before Nunn is expected to unveil a new multi-year strategy for the 261-year-old banking group.

The plan is likely to build on a period of significant digital transformation that has already seen hundreds of branch closures and increased investment in online banking, pensions and wealth management services.