Lloyds Banking Group to hire 300 AI tech experts
6 reported
Lloyds Banking Group has launched a recruitment drive for 300 tech experts to work on artificial intelligence, according to a single-source report from The Guardian. The bank stated the recruits will focus on agentic AI, which refers to autonomous AI models that can plan and execute tasks with minimal human oversight, with a target deployment by September. While the hiring will increase headcount for now, the group did not rule out future job cuts due to broad AI adoption. The new hires will join a 1,000-strong AI team that also includes retrained Lloyds staff. The bank’s AI program has already provided a £50m boost to its balance sheet last year, with a £100m benefit expected this year from agentic AI. The recruitment comes weeks before chief executive Charlie Nunn is expected to unveil a new multi-year strategy for the 261-year-old lender.
What’s reported
Lloyds Banking Group is hiring 300 tech experts for AI work.
The recruits will focus on agentic AI, with deployment targeted by September.
The group did not rule out future job cuts from AI adoption.
The new hires will be part of a 1,000-strong AI team that includes retrained staff.
Lloyds’ AI program delivered a £50m boost last year and expects a £100m benefit this year.
The hiring comes weeks before CEO Charlie Nunn unveils a new multi-year strategy.
Key figures
Charlie Nunn, chief executive of Lloyds Banking Group
Trystan Davies, group head of data and AI science at Lloyds
Bill Winters, chief executive of Standard Chartered (mentioned in context of job cuts)
Rob Smith, UK head of regulatory and risk advisory at KPMG UK
Sources: The Guardian
