Bank of Ireland chief executive Myles O’Grady said AI ‘presents both opportunities and risks’ and he is interested in using it to improve efficiency. Photograph: Nick BradshawBank of Ireland plans to invest about €1.6 billion mainly on information technology (IT) improvements out to the end of 2028. This will match its spend over the past three years, as the bank continues to improve efficiency and gradually reduce staff numbers, according to its chief executive. The bank will be able to carry out software updates and upgrades more quickly in future on the app, he added. O’Grady reiterated that the bank plans to rely on natural retirements and departures – known as natural attrition – to reduce staff numbers by about 3 per cent a year out to 2028, rather than a sweeping redundancy programme.

Source: The Irish Times April 03, 2026 22:10 UTC