Bristol named as banking group’s ‘AI capital’ where its experts drive innovation in sector
Lloyds Banking Group has awarded Bristol the title of its AI capital, placing the city and the wider West of England region at the centre of its rapidly expanding operations in the sector.
Lloyds has nearly 1,300 tech and data experts working across the region, including around 650 data and AI experts – its largest hub of technology specialists – with teams working on topics spanning behavioural science and engineering, and data and advanced analytics.
The group launched its Centre of Excellence for AI in 2023, which is largely based in Bristol, a city where it has developed a large presence over recent decades since relocating much of its retail banking operation there during the late 1980s.
The centre hosts more than 200 data scientists, including 50 PhD-level specialists in areas such as machine learning, AI ethics and data engineering.
This highly-specialist team is driving innovation across the group, including enhancing customer service for its 28m UK customers and deploying ethical AI across the organisation.
The Centre of Excellence also collaborates with leading universities and fintechs. Specialists are working with the University of Bristol’s AI for Collective Intelligence Hub to help the group stay at the forefront of AI innovation while ensuring its deployment is safe and ethical.
The news comes as the West of England Combined Authority (WECA) adopts its new Growth Strategy, which highlights the strength of digital and tech in Bristol and beyond.
Over the past decade in the West, the sector achieved 52% jobs growth – the most of any UK region, including London – and now contributes £3.8bn a year to the regional economy.
The Growth Strategy sets out the West’s ambitions for the next 10 years, including establishing the UK’s first AI supercluster, centred on the University of Bristol’s Isambard-AI supercomputer, as part of the wider effort to create 72,000 jobs and 28% economic growth.
Adam Rainey, ambassador for the South West at Lloyds Banking Group, said AI and digital transformation was happening at a rapid pace – and Bristol was at the vanguard.
“Crucially, it’s a transition being driven by research, knowledge and talent, all of which Bristol is teeming with,” he added.
“The role that AI plays in the West of England Combined Authority’s new growth strategy goes to show how ingrained AI is in Bristol and the region’s economies.
“Our role as one of the UK’s leading employers is to help realise those ambitions, providing a pathway for the region’s talent to build their skills and contribute to the West of England’s growth.”
Helen Godwin, Mayor of the West of England, said Lloyds Banking Group naming Bristol as its AI capital was a big moment for the region.
“It’s another step towards our regional ambition to establish the UK’s first AI Supercluster, building on Lloyds’ specialist Centre of Excellence for AI and much more,” she added.
“In this new chapter for the West of England, we are working together to create more jobs across our region. Lloyds is a valued employer in our part of the world, including hundreds of new apprentices and graduates and nearly 1,300 tech and data experts.”
The group has welcomed almost 350 apprentices and graduates in its Bristol hub since 2023, with many working in data and AI. They’re benefiting from working alongside the 200-strong AI Centre of Excellence to develop the skills needed for long-term careers in technology and engineering.
Ranil Boteju, chief data and analytics officer, Lloyds Banking Group, said: “We are investing in advanced AI skills across our senior leadership, recognising how quickly technology is reshaping financial services.
“By partnering with Cambridge Spark, we are already seeing the benefits. Our leaders are better equipped to drive AI innovation responsibly and deliver for the changing needs of our customers in every part of our organisation.”
