The Treasury has commissioned research into how AI and other disruptive technologies can support the financial sector to the Financial Services Skills Commission (FSSC).
In a letter to the committee’s chair, Mark Hoban, and chief executive, Claire Tunley, the Treasury’s economy secretary, Lucy Rigby, called for an investigation into what impact technology is having and how the UK can keep pace.
The scope of the study will include an assessment of the technologies expected to have a significant impact on the sector, an assessment of what that impact will be and to what extent, an assessment of the skills the sector will need to successfully implement these technologies, and a clear plan to achieve this.
“The UK’s financial centers have long attracted the brightest and best global talent. Continuing to attract the right talent and develop the right skills will be fundamental to the Government’s ambitions over the next decade,” Mr Rigby wrote.
“Building a highly skilled financial services workforce in every region and country of the UK will drive growth and productivity.
“But as AI and other technologies become more pervasive, we need to ensure our workforce has the skills to lead digitization, innovation and adoption.”
