AI is transforming the UK’s financial services sector, unlocking unparalleled opportunities for efficiency, innovation and growth.
But behind the hype, a two-tiered workforce is emerging—some employees are rapidly adapting to AI and reaping the benefits, while others are being left behind. It’s a growing divide, and one that businesses need to address now, as it could soon pose substantial long-term business risks.
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The promise of AI
Our research shows that companies that effectively integrate AI report both higher employee satisfaction and stronger financial performance. Top performers achieve average revenue growth of 8%, equating to nearly £56.5 billion per company (1). Moreover, AI is projected to contribute up to £736 billion to the UK economy by 2038, with £163 billion coming from financial services alone (2). Yet despite the clear potential, most financial services companies are still in the early stages of adoption. While 83% are piloting generative AI, just 8% have successfully scaled it across the enterprise. One of the biggest barriers? A workforce that isn’t fully AI-ready.
A widening opportunity gap
The benefits of gen AI are not reaching the workforce uniformly. Employees from lower socio-economic backgrounds* face limited access to AI tools and training, exacerbating existing inequalities. Only 38% of financial services employees from lower socio-economic backgrounds have access to AI tools, compared to 48% of their counterparts from higher socio-economic backgrounds (3). This gap threatens to widen disparities in career mobility and opportunity, particularly as roles most susceptible to AI-driven transformation—such as administrative and customer service positions— are predominantly occupied by employees from lower socio-economic backgrounds. This is not just a talent challenge, it could pose long-term strategic risks.
At the same time, a significant trust gap exists between executives and employees regarding AI’s impact. More than half (58%) of financial services employees from lower socio-economic backgrounds fear job losses due to AI, while only 21% trust business leaders to make decisions that will positively impact them (4).
The RISE approach
Our research into organisations that are successfully scaling AI has revealed four key actions executives can take to promote equitable access and training. Taken together, they form the RISE approach.
- Reinforce readiness by embedding structured AI skills and learning opportunities for all employees;
- Inspire AI confidence by promoting AI literacy and hands-on experimentation;
- Strengthen AI governance and organisational leadership by establishing responsible AI policies with clear leadership accountability; and
- Empower employees with expanded opportunities and experiences by designing personalised career pathways that enable everyone to thrive in an AI-enhanced workplace.
These actions aim to guide employers in accelerating their AI journeys—not just to support future performance but also to promote social equity.
A previous Accenture research showed that a people-centric approach to generative AI (gen AI) deployment will lead to greater economic upside in an AI-driven future. This study builds upon those findings: Organisations that prioritise workforce AI readiness are more likely to get the most out of their investments, securing a sustainable competitive advantage.
Ultimately, the future of financial services is not just AI-driven; it’s people-powered.
“As AI becomes more embedded, businesses need to think beyond short-term efficiency and focus on long-term inclusive growth. The firms that get this right will be the ones that thrive. To be a globally competitive industry, the UK financial services sector must adopt an AI approach that works for the whole of society”.
Sophie Hulm, CEO, Progress Together
“AI integration isn’t just a technological upgrade—it’s a profound organisational shift that requires an equally bold rethinking of workforce strategy. Leaders must ensure AI adoption is inclusive, engaging, and meaningful for all employees—not just a select few. That means making AI accessible at every level, embedding learning into everyday work, and recognising that the future will be shaped by more than just technical skills. This is about more than corporate citizenship and social responsibility. It’s about future-proofing the business by futureproofing society. Companies that align AI with workforce readiness will outpace their peers, attract top talent and gain a competitive edge.”
Paul Stanley, Senior Managing Director, UK Financial Services, Accenture
*Note: For this research, individuals from lower socioeconomic backgrounds are defined based on factors that indicate limited access to economic and educational opportunities. A lower socio-economic background applies if one or more of the following criteria are met:
- The main household earner’s occupation at age 14 was in a technical, craft, routine or manual job, or they were long-term unemployed.
- They were eligible for free school meals at any stage of their education.
- They attended a state school and were the first in their family to attend university.
[1] Accenture analysis of more than 10 million job postings in the UK sourced from Lightcast
[2] Generating growth: How generative AI can power the UK’s reinvention Research | Accenture
[3] Accenture UK gen AI survey 2024
[4] Accenture UK gen AI survey 2024
