Lloyds Banking Group has launched an AI recruitment drive for 300 tech experts, weeks before its chief executive, Charlie Nunn, unveils a strategic plan for the 261-year old lender.
The bank said it intended the recruits to work on its use and development of agentic AI by September, referring to autonomous artificial intelligence models that can plan and execute tasks with minimal human oversight.
While the hires will increase headcount in the near term, broader adoption of AI could ultimately lead to job cuts, according to The Guardian. The move signals a significant bet on AI-driven automation within one of the UK's largest financial institutions.
The recruitment push comes as banks globally race to integrate generative and agentic AI into operations, seeking cost efficiencies and improved customer service. Lloyds' strategic plan due next month is expected to outline further technology investments.
Critics warn that despite near-term hiring, the long-term impact of agentic AI could reduce the need for human workers in back-office and customer-facing roles across the industry.