Singapore financial sector to upskill 80,000 workers in artificial intelligence

Singapore's banking and financial institutions are set to benefit from a coordinated push to equip their workforce with critical artificial intelligence skills, as the Institute of Banking and Finance (IBF) rolled out five fresh transformation initiatives.

The move addresses growing demand for AI expertise across the financial services sector, with approximately 80,000 workers expected to receive training under the collective programmes. The initiatives are designed to help banks and financial institutions navigate rapid technological change while building internal capacity in emerging technologies.

The IBF's new offerings form part of a broader industry strategy to ensure Singapore's financial sector remains competitive as AI reshapes banking operations, from customer service and risk management to trading and compliance functions. By targeting workforce development at scale, the initiatives aim to reduce potential skills gaps and support career progression for existing employees.

The training programmes are expected to span various proficiency levels, enabling financial institutions to develop talent pipelines across their organisations. Industry participation in the IBF initiatives underscores the sector's commitment to proactive workforce planning amid accelerating digital transformation.