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Artificial intelligence could automate between 30% and 50% of tasks in most financial services roles, threatening significant employment consequences across the industry unless the technology is leveraged to drive growth rather than just efficiency, a new report has revealed. Commissioned by the UK

Standard Chartered is set to axe approximately 7,800 jobs by 2030 as part of an aggressive shift towards artificial intelligence and automation. The London-headquartered banking giant, which employs around 82,000 staff globally, has revealed it intends to slash more than 15% of its back-office roles

The Financial Conduct Authority (FCA), Bank of England and HM Treasury have issued a joint warning that frontier artificial intelligence models now pose a materially heightened cyber threat to regulated firms, and have set out clear expectations on how the sector should respond. In a joint statement

Bank of Scotland-owner Lloyds Banking Group has launched Envoy, a new internal platform that provides a secure and governed way to build and run AI agents across the organisation. Envoy supports the group’s ambition to scale agentic AI responsibly, helping colleagues work more efficiently whil

NatWest Group has become the first UK bank to launch a dedicated application to assist homebuyers within ChatGPT. This development allows both existing customers and prospective homebuyers to access tailored mortgage and home-buying guidance directly through the AI platform.

The Financial Conduct Authority (FCA) has revealed the second group of firms selected to participate in its AI Live Testing initiative, with eight companies, including Barclays, Experian, Lloyds Banking Group (Scottish Widows), and UBS, chosen to trial AI applications in real-world conditions.

Anthropic is set to release its Mythos cybersecurity product to UK financial institutions within the coming week, following a period of intense regulatory engagement on both sides of the Atlantic.

Financial regulators and top UK banks are holding urgent talks over cybersecurity risks posed by Claude Mythos Preview, a new AI model from Anthropic capable of detecting vulnerabilities in critical systems that have gone undetected for decades. Officials from the Bank of England, the Financial Cond

Lloyds Banking Group has become what is believed to be the first FTSE 100 company to deploy a specialist artificial intelligence "board bot" in its boardroom, as the 260-year-old bank accelerates its transformation into what it describes as "the UK's biggest fintech". Executives and board members ha

Scottish entrepreneur Mark Glasgow has launched an AI platform which he believes will transform the way construction companies are run. Founder of the Edinburgh Boiler Company (EBC) and the Energy Training Academy (ETA), he says he has never been more excited about a business venture.

HSBC is reportedly considering cutting up to 20,000 jobs globally as part of a medium-term restructuring plan that would see the bank lean heavily on artificial intelligence to reduce its headcount. According to Bloomberg, chief executive Georges Elhedery is exploring the use of AI to streamline bac

Scotland’s businesses would benefit from a regionally-balanced, investment-led growth model, the Scottish Chambers of Commerce has said, responding to Rachel Reeves’ Mais Lecture. The business organisation backed the Chancellor’s vision of an "active and strategic state" to drive p

More than two-thirds (72%) of accounting professionals fear that generative artificial intelligence (Gen AI) could produce errors or reach incorrect decisions, according to a year-long research study commissioned by the Institute of Chartered Accountants of Scotland (ICAS). The findings come from a

New findings from Bank of Scotland’s Business Barometer show that AI is helping Scottish firms work more efficiently and unlock new opportunities for growth. Scottish businesses integrating AI into their operations are reporting significant financial benefits, with 96% seeing increased product

A partner at KPMG Australia has been fined AU$10,000 (c. £5,200) after being caught using artificial intelligence to cheat on an internal training module – ironically, one focused on the professional use of AI. The firm’s monitoring systems detected the individual uploading course