Santander UK owner reveals plans to cut costs by over £430m under AI strategy (opens original article in a new tab)

Banco Santander plans to cut costs by over £430m and generate £860m in savings and revenues through AI by 2028, expanding AI use to all employees and implementing self-service solutions for customer calls.

• Banco Santander plans to cut costs by over £430m through AI use by 2026-2028
• AI is expected to generate over £860m in savings and revenues for the group by 2028
• Santander is expanding AI access to all 185,000 employees worldwide including 15,000 in the UK
• AI will handle 40% of UK customer calls through self-service to save 26,000 hours for customers and 45,000 hours for staff