Artificial Intelligence at Lloyds Banking Group

Rohit, Head of AI at Lloyds Banking Group

How will artificial intelligence change the way we bank, save, invest and protect our money?

More than 28 million UK adults now use AI to help manage their money. And at Lloyds Banking Group, we serve 28 million customers. That scale brings real responsibility.

That's why we are using AI in a way that's practical, responsible and focused on Helping Britain Prosper.

I'm Rohit, Head of AI at Lloyds Banking Group, and in this video I'll explain what's changing, how we're doing it responsibly, and what it means for our colleagues and customers.

Over the last two years, AI has moved further into the mainstream, and we're already looking at what comes next.

2026 marks a genuine step change: the rise of Agentic AI.

So what does that actually mean?

Generative AI responds to prompts. You ask it something, it answers. Agentic AI goes further. It can act autonomously. This means it can execute tasks and access information without needing a prompt at every step. It can make decisions based on data it is analysing in real time and coordinate complex tasks across multiple systems simultaneously.

This doesn't mean that AI is making decisions unchecked. We keep humans in the loop on the decisions that matter, with clear controls.

Think of it less like a chatbot and more like a capable assistant, handling routine processes so people can focus on tasks that require human judgement, innovation and creativity.

For financial services, this is transformative. It means faster decisions, more personalised support and, critically, improved protection for customers, especially in moments when they are most vulnerable.

Fraud is a great example. It's the most common financial crime in the UK, and stopping it requires spotting patterns across huge amounts of data in real time – exactly what Agentic AI is built to do.

We are using Agentic AI to help our colleagues identify and respond to fraud more quickly. We're not replacing human judgement, but giving our teams the tools to protect customers when it matters most.

Of course, none of this matters if we don't get the ethics right. AI is powerful, but it needs clear guardrails.

That's why we have established a set of responsible AI principles that guide how we design, deploy and govern AI across the Group.

First, trust and integrity. Our AI systems must reflect our values and earn customer confidence.

Second, people-first development. Every AI initiative should genuinely improve financial empowerment, not just efficiency for its own sake.

Third, inclusive practices. AI must treat every customer equitably and be designed to be impartial and respectful.

Fourth, ethical innovation. We prioritise transparency so customers understand how decisions are made about them.

Fifth, investing in expertise. We are continuously upskilling our teams to innovate responsibly.

Sixth, accountability. As technology evolves, our oversight evolves with it.

And finally, sustainability. AI requires significant computing power, so we monitor its carbon impact carefully. We reuse models where possible and review the sustainability credentials of partners before working with them.

Something that often gets lost in AI conversations is that it's fundamentally about people. It's about removing tedious tasks so people can focus on what humans do best: building relationships, solving complex problems and supporting customers through important financial decisions.

We have invested heavily in making sure our colleagues aren't just adapting to AI – they're shaping how we use it.

Our AI Academy provides training opportunities across the organisation, and we are seeing real engagement. Ninety-four per cent of colleagues are actively using AI-powered tools in their work.

The future of work in banking is humans and AI working together, and we are making sure our people have the skills and the ability to thrive in that future.

So what does this all mean in practice?

We have hundreds of AI and advanced analytics models live across Lloyds Banking Group.

We have built an AI solution that helps process complex commercial real estate documents. What used to take several hours now takes around five minutes, helping our relationship managers make decisions faster.

For personal customers, we are launching something genuinely exciting: an Agentic AI Financial Assistant.

Right now, around half a million Bank of Scotland customers can ask the Financial Assistant questions about their transactions. AI handles the everyday questions, but when customers need more, our people are there.

Earlier, I mentioned how Agentic AI is helping us tackle fraud. Here's what that looks like in practice.

Last year alone, our technology prevented £1 billion of attempted fraud from reaching our customers. That's real impact – real families and businesses protected at their most vulnerable moments.

AI in finance is changing how we serve customers, protect people from harm and support our colleagues.

At Lloyds Banking Group, we are committed to leading this transformation responsibly, with clear principles, strong governance and a relentless focus on outcomes that are Helping Britain Prosper.

If you want to learn more about our digital transformation, you can find more videos like this on our channel.

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