Fifty-four percent of UK businesses said AI has created new jobs, according to the Lloyds Business Barometer survey of 1,200 companies conducted in July 2026 [1, 2]. A quarter of those firms are increasingly hiring candidates with AI skills, while 20% are creating new AI-specific roles [1, 2].
Despite this, hiring for AI-exposed roles such as software developers and consultants has fallen sharply since 2022 in the UK [1, 2]. Large UK firms with turnover above £10 million report that about two-thirds of their workforce now have the necessary AI skills [1]. More than 70% of these larger companies plan to increase investment in AI to boost productivity [1].
Amanda Murphy, chief executive of business and commercial banking at Lloyds, said companies needed to move beyond simply gaining access to AI. She said firms must shift their focus towards “building the skills, culture and confidence to use it effectively” [1, 2]. Bank of England Governor Andrew Bailey highlighted the challenge of moving “from adopting the technology to using it as a productivity booster” [1].
The survey also found that AI adoption improves firm productivity overall, but some gains come at the expense of jobs [1, 2]. The impact on UK productivity could follow a J-curve, requiring time before significant benefits appear [1, 2]. UK Prime Minister Andy Burnham has warned about AI’s potential impact on jobs and young people during his first weeks in office [1, 2].
In Singapore, universities are expanding AI literacy courses and aim to embed AI into 40% of courses by 2030 [3]. Employers there are increasingly emphasizing AI skills and willing to pay more for graduates with AI capabilities [3]. Universities face challenges ensuring students use AI to augment critical thinking rather than rely on it for answers [3].
The Lloyds Business Barometer survey provides the latest snapshot of how UK businesses are reshaping hiring and investment priorities around AI as adoption grows. Companies will likely continue adapting workforce skills and roles in the coming months as AI tools become more embedded.
