80,000 finance workers to gain critical AI skills in Singapore

Singapore’s financial sector will receive targeted support to transform its workforce, including a large-scale push to train thousands of staff in artificial intelligence skills. Five new initiatives were announced by the Institute of Banking and Finance (IBF) to map job changes, test training approaches, and create pathways for reskilling across banks, insurers, and asset managers.

What changed and why it matters

The IBF announced five new initiatives to help the financial sector’s workforce adapt to AI-driven changes. A key component is an AI workforce co-lab that will gather companies and partners to study how roles are evolving and to test practical training and job redesign approaches. The goal is to develop scalable training models that can be shared across the sector.

Key facts and figures

• At least 80,000 employees in the Singapore finance sector are expected to be trained in critical AI skills by 2028.
• Trainings will be delivered through IBF-recognised programmes developed with 23 partner organizations, including banks, insurers, and asset managers.

Who is affected

The initiative targets employees across banks, insurance companies, and asset managers operating in Singapore. The plan covers local workforce transformation and is led by the Institute of Banking and Finance (IBF), a not-for-profit industry association setting standards for professional education in finance.

Practical next steps for workers and employers

• Businesses will map job changes and identify which roles should be redesigned or upskilled first.
• Employees should look for IBF-recognised AI training programmes and partner-led reskilling pathways offered through the five initiatives.
• Organizations will share findings with the wider sector to promote scalable training approaches.

Limits and questions to consider

Details about funding, eligibility, and programme content will come from IBF and partner organisations as plans are rolled out.

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