The UK government has tasked the Financial Services Skills Commission (FSSC) with leading a landmark study into AI and technology skills within the financial services sector.
The initiative aims to ensure the workforce is equipped to capitalise on emerging technologies that are transforming the industry and driving future growth.
This move delivers on a key commitment outlined in the Financial Services Growth and Competitiveness Strategy, published in July 2025, which pledged to identify the skills required to sustain innovation and digitisation across the UK’s financial landscape. The government said the goal is to create a highly skilled financial services workforce across all regions and nations of the UK, enhancing productivity and competitiveness.
The FSSC will receive backing from the City of London Corporation, TheCityUK, Lloyds Banking Group, and PwC to produce a comprehensive report examining the sector’s readiness for AI adoption. The study will explore how the UK’s skills system can be strengthened to support the integration of AI and other disruptive technologies, identifying both immediate and long-term workforce needs.
Before setting out a national plan for developing these skills, the FSSC will evaluate which technologies are expected to have the greatest impact on business models and workforce structures over the next five to ten years. This includes assessing how innovations such as AI, automation, and machine learning could reshape financial operations, and what new expertise will be required for successful implementation.
The findings will inform policies designed to boost growth, enhance productivity, and ensure that UK financial services remain globally competitive. The government confirmed it will maintain close contact with the FSSC throughout the process and monitor progress until the report’s publication next year.
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