This manuscript introduces a new socio-inspired metaheuristic technique referred to as Leader-Advocate-Believer based optimization algorithm (LAB) for engineering and global optimization problems. The proposed algorithm is inspired by the AI-based competitive behaviour exhibited by the individuals in a group while simultaneously improving themselves and establishing a role (Leader, Advocate, Believer). LAB performance in computational time and function evaluations are benchmarked using other metaheuristic algorithms. The LAB algorithm was applied for solving engineering problems, including abrasive water jet machining, electric discharge machining, micromachining processes and turning of titanium alloy in a minimum quantity lubrication environment. The results were compared with other algorithms such as Firefly Algorithm, Cohort Intelligence, Genetic Algorithm, Simulated Annealing, Particle Swarm Optimisation and Multi-Cohort Intelligence. The results from this study highlighted that the LAB outperforms the other algorithms in terms of function evaluations and computational time. The prominent features and limitations of the LAB algorithm are also discussed.