TLDR: NatWest Group Chief Executive Paul Thwaite has stated that artificial intelligence is being integrated into the bank’s operations as an enhancement to human capabilities rather than a direct cause of job displacement. He emphasized that AI aims to boost productivity and efficiency, leading to a shift in workforce profile towards specialized digital roles.
NatWest Group’s Chief Executive, Paul Thwaite, recently addressed the cross-party Treasury Committee of MPs, asserting that the bank perceives artificial intelligence as an ‘addition’ to human jobs rather than a replacement. Thwaite, who oversees a workforce of over 60,000 at NatWest, stated, ‘We don’t see a direct link between deploying technology and removal of jobs.’
During his testimony on May 20, 2025, Thwaite elaborated on NatWest’s approach to AI integration, highlighting its potential to ‘improve the productivity of the economy.’ The bank is actively deploying generative AI across its operations, specifically to ‘make colleagues more efficient’ in roles such as software engineers and relationship managers. This strategic implementation aims to augment human performance and streamline processes, rather than automate positions out of existence.
Thwaite acknowledged a significant evolution in the bank’s workforce composition. He noted, ‘What I would say is the profile of the workforce is changing a lot. We’re now recruiting people who are specialists in AI, data scientists, digital experts, that’s obviously a different profile of staff from which the bank was recruiting 15, 16 years ago. So really it’s an addition to staff rather than a replacement.’ This indicates a strategic pivot towards acquiring new skills necessary for a technologically advanced banking landscape.
NatWest’s stance contrasts with broader industry trends and concerns. A World Economic Forum survey conducted earlier this year indicated that 41% of employers intend to downsize their workforce due to task automation. Furthermore, some major tech companies, such as Microsoft, announced significant job cuts (approximately 6,000 workers in May) concurrently with heavy investments in AI and its application in areas like software development.
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Other banking leaders also shared their perspectives with the committee. Charlie Nunn, Chief Executive of Lloyds, suggested that AI could facilitate ‘more personalised advice’ for banking customers, emphasizing that this process would always maintain a ‘human in the loop’ to ensure oversight and quality.
