Lloyds Bank has been urged to disclose the full human cost of its AI-powered savings strategy. This follows the bank's announcement on July 30 of plans to cut £2bn in costs using artificial intelligence.
Dr Gleb Tsipursky, a behavioural scientist, argues that banks often only measure the time saved by employees using AI tools. He suggests they should also account for the time colleagues spend checking AI-generated facts, repairing customer messages, explaining rejected applications, and escalating errors.
Dr Tsipursky recommends that Lloyds publish a scorecard for each significant AI workflow. This scorecard should include total time saved, error and rework rates, customer complaints, successful human interventions, and changes to entry-level roles. He also states that an executive with authority to pause a system should be named if evidence turns negative.
The call highlights the need for clear routes for relationship managers and customers to challenge automated recommendations, and for staff to report weak AI outputs without fear of being seen as resistant to innovation.