Lloyds Banking Group expects over £100 million in value from next‑generation AI this year, with the bank already having squeezed around £50 million of value out of the tech as it races to strengthen its position as an AI leader in the sector.

As part of its financial results released today, Lloyds said that it had deployed over fifty genAI solutions for customers and staff, including more intuitive in‑app searches and quicker, more accurate responses across customer operations.

This year, the bank intends to build on this early success to scale agentic AI across its operations through significant strategic investments, maximising the value of the advanced tool to launch more use cases, which it said will help it to deliver seamless experiences for its 28 million customers.

In addition to the new genAI and agentic AI solutions planned for this year, the bank is aiming for another major milestone with the full customer rollout of its AI-powered financial assistant. 

According to Lloyds, this assistant will be able to give customers tailored guidance and more intuitive support within the mobile app, with the plan being to expand this over time beyond everyday banking to help customers navigate savings, borrowing, investments and protection.

Behind the scenes, the bank said it will continue to strengthen its staff’s AI literacy by launching a new AI Academy, which all 67,000 of the bank’s employees, no matter their role or level, will be expected to complete by the end of 2026.

Lloyds stressed, however, that it is already an AI powerhouse within the financial sector, having embedded a suite of tools across departments. 

Around 5,000 engineers, for instance, are using AI‑supported coding tools, which the bank said is driving a 50% improvement in converting code for established systems, while an AI HR assistant has proven itself by resolving around 90% of HR queries correctly on first contact.

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Most useful, however, is Lloyds’ Athena Knowledge Management Tool, an AI‑powered internal search and knowledge assistant used by 20,000 colleagues, which has reduced search times by 66% on average.

The technology has become a central pillar of the bank’s core tech stack, and while not directly responsible for the 7% spike in revenue Lloyds enjoyed last year, senior leaders are clear that it has offered a boost.

“AI is already delivering real value for our business, our colleagues and our customers. The progress we’ve made this year shows the scale of the opportunity ahead,” said Ron van Kemenade, Lloyds Banking Group COO.

“By continuing to extend our leadership in AI and scaling the most impactful technologies across the Group, we can unlock new opportunities to better support our customers, strengthen our operations and realise further financial benefits in the years ahead.”