East Midlands firms say AI has created new jobs as race for skills begins
Added by Love Business East Midlands | 17 August 2026
UPDATED: 18 August 2026
AI is helping East Midlands firms create new jobs and build the skills needed to stay competitive, according to research from the Lloyds Business Barometer.
- 65% of East Midlands firms using AI say it has created new jobs in their business
- 31% say their workforce does not yet have the AI skills needed
- 55% plan to increase investment in AI to upskill their workforce
- 62% say businesses risk falling behind competitors if they fail to adopt AI
Businesses step up investment in AI skills
65% of East Midlands businesses already using AI say it has created new jobs in their firm, while 55% of all firms in the region plan to increase investment in AI to upskill their workforce in the coming year.
Of those increasing investment, 40% expect to spend between £25,000 and £100,000, while 38% expect to spend between £100,000 and £250,000.
While 50% of East Midlands businesses say their workforce has the AI skills needed, 31% say it does not.
Overall, 48% of the region’s firms say they currently use AI.
AI becoming essential for competitiveness
62% of East Midlands 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 access to skills (27%), cost (25%) and security concerns (16%) as the main challenges to getting greater value from AI.
Dave Atkinson, regional director for the East Midlands at Lloyds, said:
“AI is already delivering real benefits for businesses across the East Midlands, with almost two-thirds of firms using the technology saying it has helped them create new jobs. There’s also a clear ambition to go further, with more than half of businesses planning to increase investment in AI skills over the coming year.
“Businesses increasingly recognise that AI will be important to staying competitive, but there are still some hurdles to overcome. Access to skills and cost remain key barriers, and almost a third of firms say their workforce doesn’t yet have the AI capabilities they need. Helping businesses close that skills gap will be vital to turning growing investment and appetite for AI into greater productivity, more jobs and long-term growth across the region.”
Amanda Murphy, CEO of Lloyds Business and Commercial Banking, said:
"Businesses are increasingly focused on how AI can help them grow, improve productivity and compete more effectively.
"Many firms see AI as an investment in people as well as technology. They’re building skills, creating new roles and looking at how AI can help their teams work differently. At the same time, businesses recognise there’s a risk in standing still. As AI becomes more embedded across the economy, the ability to adapt and build the right capabilities will become an increasingly important source of competitive advantage.
"The opportunity is significant, but ensuring businesses of all sizes can access the skills and support they need will be critical to unlocking AI’s full potential."
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.
