Lloyds Bank to Cut £2 Billion in Costs as Part of AI Powered Strategy Lloyds Banking Group, the UK's largest high street lender, has unveiled a four year plan to drive growth through investment in pioneering technology and artificial intelligence.
At its core is a £2 billion cost cutting exercise aimed at making the bank more agile and competitive in an increasingly digital landscape.
The strategy involves significant investments in "AI powered advice" for wealth and workplace pensions, with £13 billion earmarked for the business by 2030.