Letter from the Economic Secretary to the Treasury commissioning
the Financial Services Skills Commission to produce a report on
disruptive technologies and skills needs.
Letter from the Economic
Secretary to the Treasury to the Financial Services Skills
Commission
Details
A highly skilled financial services workforce in every region and
nation of the UK will drive growth and productivity. However, as
AI and other technologies become more prevalent, we need to embed
the skills that will ensure our workforce is equipped to lead the
way in digitisation, innovation and adoption.
This is why the government committed, through the Financial
Services Growth and Competitiveness Strategy, published in July
2025, to commission the Financial Services Skills Commission
(FSSC) to produce a report on AI skills needs, training and
innovation in financial services. The letter published today
delivers on this commitment.
The FSSC will be supported by the City of London Corporation,
TheCityUK, Lloyds Banking Group and PWC, and will analyse and
recommend how the skills system can drive growth and productivity
in financial services by supporting the adoption and innovation
of AI and potentially other disruptive technologies.
Before setting out a plan for building the skills system, the
FSSC will assess the technologies that are expected to have a
significant impact on the sector's business practices, workforce,
and skills needs over the next five to ten years. They will also
assess the impact of these technologies on growth potential and
productivity, and the skills required by the financial services
sector for successful adoption and deployment.
The government will remain in close contact with the FSSC and
monitor progress ahead of publication next year.
