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Over 80,000 Finance Workers to Get AI Training by 2028 as Industry Launches Job Transformation Initiative
The 23 firms account for about 40% of Singapore’s financial services workforce, and more than half their employees have already trained to date, IBF said.
- On Thursday, Deputy Prime Minister Gan Kim Yong officially launched the IBF AI Workforce Co-Lab, with 23 financial institutions including DBS, OCBC, UOB, AIA Singapore and Prudential committing to train more than 80,000 Singapore employees in critical AI skills by 2028.
- As AI adoption grows across financial services, Singapore's major institutions are moving to cushion workers from potential job disruption, with DPM Gan emphasizing that financial institutions must plan for their people as roles expand or change in customer service, financial advisory, credit underwriting and fraud detection.
- Singapore's strategy comprises three 'Ups': uplift the workforce with critical AI skills, upskill finance professionals for specific AI-enabled roles, and upbuild a stronger pipeline of young talent; ten private banking employers committed to upskill relationship managers through targeted pathways.
- IBF chief executive Carolyn Neo noted the 23 partner institutions represent around 40 per cent of Singapore's financial services workforce; DPM Gan urged additional institutions to join, stating "I encourage more financial institutions to join the Co-Lab and make the commitment to your people."
- An enhanced tripartite Memorandum of Understanding between IBF, NTUC and seven industry associations will expand training access and develop tailored programmes for different financial sub-sectors; IBF is launching the Job Redesign Playbook for Financial Services with ecosystem partners to support sustained transformation.
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PressNewsAgencyOver 80,000 finance workers to get AI training by 2028 as industry launches job transformation initiative
23 financial institutions have committed to training their entire Singapore workforce in critical artificial intelligence skills by 2028 through programmes recognised by the Institute of Banking and Finance.
·Singapore, Singapore
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Total News Sources10
Leaning Left0Leaning Right2Center3Last UpdatedBias Distribution60% Center
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- 60% of the sources are Center
60% Center
C 60%
R 40%
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