Reimagining the future: how AI is transforming Lloyds Banking Group

Building the foundations: people, process, and technology

Transformation at this scale requires more than ambition; it demands capability. That’s why we’ve focused on building the right foundations across three dimensions: people, process, and technology.

People: upskilling for the AI era

We’ve launched a comprehensive upskilling programme to ensure our colleagues are ready to thrive in an AI-enabled environment. This includes:

• AI for Leaders – a strategic education programme developed in partnership with Cambridge University, aimed at our senior leadership team.
• Practitioner Packs – technical training for engineers and developers to build and deploy AI solutions.
• AI Summer School – a Group-wide initiative to introduce AI concepts to colleagues across all roles and levels.

We’ve also rolled out Microsoft Co-pilot to 40,000 colleagues, giving them access to generative AI tools that enhance productivity in everyday tasks, from analysing documents to creating presentations.

Process: a scalable operating model

To ensure consistency and governance, we’ve implemented a new AI operating model. This includes a centralised playbook for developing AI use cases, guidance on whether to build or buy solutions, and a governance framework that ensures responsible AI deployment.

One of our key governance mechanisms is the GenAI Control Tower, a cross-functional forum where we prioritise use cases, allocate resources and ensure alignment with our broader strategy.

Technology: a fit-for-purpose approach

We’re leveraging multiple toolsets to support our AI ambitions, including Microsoft and Google. Microsoft tools such as Copilot Studio enable us to build agentic AI solutions for colleagues, while Google Cloud provides the infrastructure for complex generative AI frameworks. This multi-platform approach allows us to align the right tools with the specific needs of each solution, giving us the flexibility and agility to scale our AI capabilities effectively.
 

Real-world impact of AI

We’re already seeing meaningful impact from AI in several areas:

Customer operations

AI is helping us automate complex processes like fraud investigations, lending reviews, credit reports, complaints handling and Know Your Customer (KYC) checks. Tasks that previously took weeks or months are now being completed in days, enhancing both operational efficiency and customer experience.

Developer productivity

Our engineering teams are using AI to accelerate software development, reduce errors and improve code quality. AI is also playing a critical role in modernising legacy systems by refactoring outdated code into contemporary applications.

Colleague enablement

Tools like Microsoft Copilot are transforming how colleagues work, enabling faster decision-making and freeing up time for higher-value tasks.

We’re also actively developing customer-facing agentic AI use cases that will redefine how we engage with customers. While some of these initiatives are still under wraps, they mark a significant step forward in our digital transformation journey – pushing the boundaries of what’s possible in customer interaction and experience.

Staying ahead in a rapidly evolving landscape

AI is evolving at an unprecedented pace. What’s cutting-edge today may be commoditised tomorrow. That’s why our approach is both ambitious and adaptive. We remain “rigid on the vision, flexible on the approach”. Our long-term goal is to align all AI initiatives with our 2030 strategy, but we’re building incrementally to deliver value year by year while staying agile enough to pivot as the technology evolves.

Striking the right balance between long-term vision and short-term delivery is critical. It ensures we’re not only preparing for the future but also realising tangible benefits today.