Lisa Francis, Global Head of CIB Coverage at Lloyds, says: “Despite global uncertainty, financial institutions are building confidence by harnessing technology to drive long-term growth. The sector is prioritising the areas that will define future competitiveness, from AI and emerging technology to data, talent and international expansion.”
According to the survey, 93% of respondents believe AI and machine learning will have the biggest impact on financial services in the UK over the next five years.
The survey indicates 91% of leaders expect their organisation will increase investment into AI in the next 12 months.
Spending plans reflect operational focus
Capital expenditure year on year is planned to increase according to 64% of respondents.
Lloyds Bank notes this reflects considerations around operational resilience in addition to long-term competitiveness and productivity.
Lisa continues: “What is clear is that growth in the next decade will be shaped by the ability to adapt, invest and scale new capabilities. Advanced AI and data solutions are moving from ambition to adoption, with institutions increasingly looking at how these technologies can improve productivity, deepen client relationships and create new opportunities across markets.”
