UK banks are expected to channel more than £1.8bn into generative AI by 2030, according to new research from Zopa and Juniper Research. Reports Technology News
The financial sector is set to be one of the biggest beneficiaries of secure generative AI adoption, with applications ranging from automating routine tasks to powering advanced financial modelling, improving customer service, and enhancing security.
Zopa’s findings suggest that this wave of investment will deliver substantial productivity gains. Over the next five years, generative AI could save as much as 187 million labour hours, with the majority of efficiencies (82%) predicted to come from administrative functions in operations and compliance.
The report also highlighted that the financial benefits will be considerable. Zopa projected that cost savings could closely mirror the total investment figure, reaching around £1.8bn.
“GenAI marks a paradigm shift in applied computing. Its influence on productivity, software creation, and decision-making systems could rival the advent of the Internet or cloud computing,” said Zopa CTO Peter Donlon.
“At Zopa, we’ve been operationalising machine learning for over a decade, well before LLMs became mainstream. That depth of experience has shaped our belief that GenAI isn’t a feature add-on, but a foundational capability.”
