Curently undergoing testing with 7000 staffers, the AI will provide 24/7 personalised financial coaching and work as a financial companion, capable of answering questions and providing guidance, alongside the ability to refer to expert human support when needed.The roll out incorporates a conversational tool that allows customers to request personalised spending insights, alongside a savings and investment tool that helps customers make informed financial decisions.The functionality is built on Lloyds Banking Group’s Generative AI and Agentic framework, that mines curated bank data to ensure that responses are accurate and tailored. For the initial launch, Lloyds has deployed generative AI for conversational interfaces and agentic frameworks to break down requests, plan actions and execute tasks using tools, for instance, converting natural language to code for transaction queries.Ranil Boteju, chief data and analytics officer at Lloyds Banking Group, comments: "We believe this innovative tool will not only provide our customers with personalised, round-the-clock support, but also set a new benchmark for the responsible and effective use of AI in UK banking. Importantly, it provides instant and free access to personalised financial coaching.”According to Lloyds Banking Group’s latest Consumer Digital Index, 56% of adults, around 28.8 million people, have used AI in the past 12 months to help manage their money. Among them, ChatGPT is the most popular platform, used by six in ten people.While AI adoption is rapidly increasing, eight in 10 people (80%) are concerned about receiving inaccurate or outdated information, and over two thirds (69%) are worried about a lack of personalisation based on their personal circumstances. Boteju’s believes that the bank’s trust framework and technology will help to address these fears: “Our AI financial assistant is underpinned by LBG’s robust AI assurance framework and guardrails, helping deliver safe, explainable and regulated AI-driven interactions."Following the initial pilot, Boteju says Lloyds will expand and deepen the support it provides over time, with features covering spending, savings, and investments, and eventually encompassing its full suite of financial products, from mortgages, to car finance, to protection needs.