Barclays Extends Cloud Usage to Save £2B

Barclays, the British bank, is expanding its use of Anthropic's AI model "Claude" to enhance operational efficiency and modernize outdated systems. The bank aims for 50% of its software developers to utilize the "Claude Code" tool by the end of 2026, with plans to introduce it to half of the developers' teams before the year's end. This tool helps update applications, accelerate coding, and carry out technical tasks, processing approximately 120,000 emails daily through the Markets division. The bank is focused on reducing the time spent on routine tasks, allowing employees to concentrate on more complex issues, as part of a plan to achieve cost savings of two billion pounds through AI. The increasing reliance on technology is expected to impact the bank's staffing, with estimates suggesting a potential reduction of up to 20% in the number of employees across Europe in a short period.

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