Software development will have the largest talent shortage by 2030.
As banks become more reliant on data and machine learning, job seekers in Hong Kong will increasingly need the ability to operate and manage artificial intelligence (AI) tools, from understanding how automated systems make decisions to checking for errors, analysts said.
“Skills gaps in sustainable finance, compliance and data analytics persist.” Dora Leonsaid the senior manager of banking and financial services at recruitment agency Randstad Hong Kong. magazine.
“While upskilling efforts and targeted training have helped close the gap, talent will continue to need to keep up with changing regulations and the integration of AI tools,” she said in an emailed response to questions.
The ability to understand and use AI systems will be one of the fastest growing skill needs in this sector, according to a study by the Hong Kong Monetary Authority (HKMA). Software development is also predicted to be the biggest skills gap by 2030, with 36% of banks identifying it as a major constraint.
“To future-proof their careers in an increasingly automated environment, banking professionals need to acquire the necessary skills to effectively communicate and interact with AI systems,” the central bank said, adding that digital automation is already impacting the way banks measure performance, manage risk and deliver services.
But banks are struggling to deploy AI and data experts at the speed they want. Machine learning talent is in high demand across all industries, he said, and candidates strong in AI often lack experience working in highly regulated environments. Wisely WongSenior Director of Hays Hong Kong Ltd.
“Banking is a regulated sector, and even experienced AI hires still take time to warm up and understand banking products and compliance constraints, delaying their impact,” he said in an email response to questions.
The HKMA study said banks' adoption of big data, AI and automation will continue to expand, although a lack of specialized talent remains a bottleneck. Some financial institutions have started in-house training to accelerate adoption.
UBS Group AG and DBS Bank Ltd. said they have rolled out an AI-focused certification program to help employees understand how to use tools in risk, operations and customer management. Justin TanHead of LEK Consulting's Asia Financial Services Practice.
“Senior management needs to take the lead and ensure that they are familiar with the new paradigm,” Tan said, adding that support, incentives and involvement from leadership are essential.
Despite the rapidly growing demand for AI-savvy talent, adoption remains uneven across financial services.
According to Mercer's Global Talent Trends 2025 report, only 37% of companies regularly use generative AI, and only 7% believe AI has fundamentally changed their business model. Many cited increased operational and reputational risks from misuse of the technology.
To close the gap, Leong said employers need to move towards skills-based recruitment rather than prioritizing past experience. Recruiters said management roles remain the most vulnerable to automation, including finance departments.
“Organizations are likely to be smaller, but potentially more profitable because the goal is to make more money while lowering employment costs.” John MullallyRobert Walters, Hong Kong Managing Director, said: magazine By phone.
He added that many employees specialize in too narrow a field and will need a broader skill set to remain competitive.
Mercer found that while half of organizations are redesigning jobs to increase productivity, 61% are in the early stages of 'skills leveraging'. Companies that are further along in this transition report higher retention rates, engagement, and output.
