Over 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.
More than 80,000 finance workers in 23 financial institutions in Singapore will receive AI training by 2028, Deputy Prime Minister Gan Kim Yong announced on September 24. The initiative, called the IBF AI Workforce Co-Lab, is a collaboration between the Institute of Banking and Finance and the financial institutions, and aims to assess how AI is changing jobs and test practical training approaches.
Over half of the employees have already been trained, said Gan, who is also chairman of the Monetary Authority of Singapore. The Co-Lab will develop pathways for workers to acquire the necessary AI skills suited to their specific roles. The 23 institutions include major banks such as DBS, OCBC, UOB, AIA Singapore, and Prudential.
The initiative aims to prepare Singapore's workforce for the changes brought by AI adoption, including in customer service, financial advisory, credit underwriting, fraud detection, market analysis, and software development.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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