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Singapore finance firms pledge AI training for 80,000 local staff

A group of 23 banks, insurers, and asset managers says it will train all Singapore staff by 2028 and start with leaders, wealth managers, and operations roles.

Reported · Written up by our desk · Asia

Singapore’s major financial institutions have pledged to train more than 80,000 local employees in AI skills to help cushion potential disruption to white-collar jobs, according to SCMP Economy.

The initiative involves a pioneer batch of 23 banks, insurers, and asset managers, which plans to train all Singapore staff by 2028, with more than half of employees already completing programmes recognized by an industry association, Deputy Prime Minister Gan Kim Yong said.

Gan, who also chairs the Monetary Authority of Singapore, said the firms will study how jobs are changing and test approaches to training and job redesign, starting with roles for leaders, wealth managers, and operations staff.

He added that the goal is for AI to translate into better careers for Singaporeans and a more productive workforce, per SCMP Economy.

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