TLDR
S4 Capital's Monks is running AI coding agents unsupervised for up to 48 hours at a stretch while headcount fell 10.5% year-on-year to 6,156, a loss of 723 staff. S4 Capital's operational EBITDA rose 82.7% to a record £38.0 million in the first half even as net revenue fell 6.2%.
KEY TAKEAWAYS
S4 Capital's Monks has AI coding agents running for 36 to 48 hours at a stretch without a person supervising them, and plans to put the same set-up to work on clients' social media next year.[1]
"We had coding agents that were working for 36 to 48 hours and not making mistakes," Wesley ter Haar, Monks' chief AI and revenue officer, told Digiday. Larger projects run for several days.[1]
Most of that work so far is coding on Monks' own software. Staff write the requirements, then the agents split up the tasks, test their code and review each other's work. Sprints that took two weeks may now take two days.[1]
Social media is next
Monks wants to extend the approach to social and performance marketing, where agents would act on trends, comments or posts that aren't working. Early next year an unnamed client will move its social work, from insights to community management, onto the rebuilt agentic set-up.[1]
The output still needs sifting. Agents can produce 50 on-brief ideas in about 10 minutes, ter Haar said, but only about five of a bolder batch may be usable. A "tech council" decides which jobs need the most expensive models.[1]
Not everyone is comfortable. "Let's not mistake autonomy for accountability," said Fred Schuster, president of Rosie Advisory.[1]
Fewer people, more profit
S4 Capital's half-year results show 6,156 people at 30 June 2026, down 10.5% from 6,879 a year earlier.[2]
Net revenue fell 6.2% to £308.0 million in the six months to June, while operational EBITDA rose 82.7% to a record £38.0 million. The company paid its first interim dividend on 6 October.[2]
S4 doesn't break out how much of that came from agents. It says its own AI products are "at the heart of all our new business efforts".[2]
A Melbourne agency's offer
In Melbourne, creative agency Kill Boring Dead has offered every employee two years' full salary if they can show AI can do their whole job.[3]
Co-founder and chief executive Marcus Willis also paused new business until the end of 2026 to build the agency's own software. "If AI can genuinely do your job, I want to know today, not in six months once someone else has worked it out," he said.[4]
No one had claimed the money at last report.[4]
SOURCES & CITATIONS
FREQUENTLY ASKED QUESTIONS
How long do Monks' AI agents run without human supervision?
What happened to Monks headcount in the year to June 2026?
How much did S4 Capital's EBITDA grow in H1 2026?
What is Kill Boring Dead's AI offer to staff?
James Dore is Strategy Director at Bushnote, a leader in SEO and AEO in Australia. He writes on search, AI and the technology decisions shaping government and industry.
Important
This article contains general information about S4 Capital's financial results and AI implementation. It is not financial advice. Before making any investment decisions, consult with a licensed financial adviser who can consider your personal circumstances.
