Singapore's financial institutions commit to training over 80,000 employees in AI skills

Singapore's major financial institutions have pledged to train over 80,000 local employees in AI skills by 2028, aiming to mitigate potential job risks from AI-driven changes. This initiative, announced on September 24, 2026, involves 23 banks, insurance companies, and asset managers, with more than half of their employees already enrolled in industry-recognized training programs. Singapore's Deputy Prime Minister and Minister of Finance, Lawrence Wong, emphasized that AI should enhance career opportunities and boost workforce productivity. The plan builds on a similar effort launched a year earlier, when three local banks committed to training 35,000 employees. Singapore's Financial Services Authority chief, Dicky Chia, added that supporting employees through evolving job roles is crucial. Recently, Singapore's Prime Minister, Lawrence Wong, joined global leaders in calling for stricter control and international oversight of advanced AI models, citing concerns over security vulnerabilities and unauthorized access.