Lloyds Banking Group is accelerating its AI transformation, with 30 generative AI use cases already in production and plans to scale this to between 60 and 100 by the end of the year. Speaking at the Bloomberg 2025 Sell-Side Leaders Forum in London, Ron van Kemenade, Group COO, said the bank is actively deploying AI across functions ranging from document automation to coding support for engineering teams.

Rather than hesitating over AI investment, the industry is now focused on practical implementation. “Firms are vigorously identifying use cases,” said van Kemenade, although he noted that some routine tasks may still be better suited to robotic process automation.

Lloyds is also using generative AI to reverse engineer legacy systems—millions of lines of often undocumented code—helping accelerate their transition into modern, agile applications. This capability is central to overcoming one of banking’s most persistent technological barriers.

Beyond technology, the bank is investing in people. Its top 300 leaders have completed a tailored AI programme at the University of Cambridge to build foundational understanding across the organisation. “Broad-based readiness is essential,” said van Kemenade, highlighting the need for AI fluency at every level. To drive its AI strategy, Lloyds has appointed Rohit Dhawan, former AI lead at Amazon Web Services, as its first group director of AI and advanced analytics. Dhawan leads a new Centre of Excellence uniting expertise in data science, behavioural science, machine learning and AI ethics. Lloyds now employs more than 3,000 specialists in these areas.

A key enabler is Lloyds’ partnership with Google Cloud, whose Vertex AI platform supports rapid deployment of machine learning models. One example is a new algorithm that reduces mortgage income verification times from days to seconds—offering significant gains for customers and environmental efficiencies through reduced energy use.

The bank is also exploring neurosymbolic AI through its partnership with UnlikelyAI. This hybrid approach combines neural networks with symbolic reasoning to deliver more transparent and reliable outcomes, currently being tested in Lloyds’ innovation sandbox.

Further investment is supporting UK fintech firms like Aveni, developer of the country’s first generative AI model tailored to financial services. Aveni’s system, aligned with FCA and EU ethical AI standards, is being used by Cavendish Online to analyse customer calls, improving service quality and detecting real-time vulnerabilities.

These efforts reflect Lloyds’ strategic commitment to embedding AI throughout the organisation—not as a series of experiments, but as a pillar of its digital future. By integrating cutting-edge technology with ethical standards and targeted upskilling, the bank aims to boost productivity, cut costs and deliver better customer experiences.

As legacy systems, regulation and trust continue to challenge the sector, Lloyds’ approach offers a blueprint for banks seeking responsible AI adoption. Its progress reinforces the UK’s position as a global leader in financial AI innovation.

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