The UK government has announced that the Financial Services Skills Commission (FSSC) will lead a new initiative to assess the artificial intelligence (AI) and technology skills needed across the financial services industry.
The move aims to ensure the UK’s financial sector remains globally competitive as AI and emerging technologies continue to transform the way firms operate.
As part of the Financial Services Growth and Competitiveness Strategy, first published in July 2025, the government has tasked the FSSC with producing a comprehensive report on AI-related skills, training, and innovation in financial services. The newly issued letter of commission officially launches this effort, setting in motion a plan to strengthen the industry’s long-term workforce capabilities.
The FSSC will work closely with key industry partners including the City of London Corporation, TheCityUK, Lloyds Banking Group, and PwC. Together, they will identify how the UK’s skills system can be enhanced to drive growth and productivity by supporting AI adoption and innovation across financial institutions.
The report will analyse which technologies are expected to have the most significant impact on the sector over the next five to ten years, including AI and other disruptive innovations. It will explore how these developments may influence business practices, workforce demands, and the skills required to ensure effective deployment and integration. The findings will help shape a plan for embedding digital capabilities and preparing the workforce for the next phase of financial services transformation.
A government spokesperson said the initiative reflects the UK’s ambition to build a “highly skilled financial services workforce in every region and nation” to boost economic growth and innovation. By proactively identifying the skills needed to support digitisation, the government aims to position the UK as a global leader in AI adoption within the financial services sector.
The FSSC’s final recommendations are expected to be published next year, following close collaboration with government departments and ongoing monitoring of progress.
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