AI is helping North West firms create new jobs and build the skills needed to stay competitive, according to research from the Lloyds Business Barometer.

57% of North West businesses already using AI say it has created new jobs in their firm, while 57% of all firms in the region plan to increase investment in AI to upskill their workforce in the coming year.

Of those increasing investment, 36% expect to spend between £25,000 and £100,000, while 31% expect to spend between £100,000 and £250,000.

While 53% of North West businesses say their workforce has the AI skills needed, 31% say it does not.

Overall, 66% of the region’s firms say they currently use AI.

56% of North West firms say that businesses which fail to adopt AI in the next three years will be at a competitive disadvantage, suggesting AI is increasingly viewed as a competitive necessity.

Barriers to AI adoption

Businesses in the region using AI cited not having enough internal expertise (20%), cost (20%) and a lack of understanding (16%) as the main barriers to getting greater value from AI.

Jenny France, area director in the North West at Lloyds, said: “AI has the potential to be transformative for businesses, as it is unlocking efficiencies while also creating new job opportunities across the North West. It’s no wonder so many firms in our region view it as essential to staying competitive, and that’s why it’s important they’re supported as they continue to embed this technology into their operations.

“With a lack of internal expertise and understanding proving to be some of the main barriers to adoption, it’s encouraging to hear that the majority of firms are planning to invest in upskilling their workforce so they can continue to make the most out of the exciting opportunity AI presents.”

Amanda Murphy, CEO of Lloyds Business and Commercial Banking, said: “AI has the potential to be as transformative for businesses as the internet was a generation ago. The businesses seeing the greatest benefit are treating it not simply as a technology investment, but as a catalyst for broader transformation across their organisation.

“Success will depend on more than access to technology. It will come from building the skills, culture and confidence to use it effectively. The businesses that can combine human ingenuity with the power of AI will create a meaningful advantage in productivity, innovation and growth.

“As adoption accelerates, the greatest challenge for many organisations may not be keeping pace with technology, but ensuring they have the capabilities to adapt alongside it. Supporting businesses to navigate that transition will be critical if the UK is to fully capture the economic opportunity AI presents.”

The national picture

More than half of UK businesses (54%) say AI has created new jobs, and 58% plan to invest in AI skills.

31% say their workforce does not yet have the AI skills needed and 58% of UK firms say businesses risk falling behind competitors if they fail to adopt AI.

For UK businesses overall, cost, data quality and skills are the biggest barriers to getting more value from AI.

Lloyds is scaling AI roles, tools and training

Lloyds is also investing in its own AI capability. In June, the Group announced plans for more than 1,000 AI-related roles in 2026, including almost 300 agentic AI-related roles and one of the first Level 6 AI Engineering apprenticeships by a UK bank.
More than 400,000 AI Academy courses have been taken since January, with over 65,000 colleagues completing training on working responsibly with AI.