HM Treasury has published a letter from the Economic Secretary to the Treasury commissioning the Financial Services Skills Commission (FSSC) to produce research and recommendations on the skills implications of artificial intelligence and other potentially disruptive technologies for UK financial services. The work will assess technologies expected to materially affect business practices, workforce needs and skills requirements over the next five to ten years, and evaluate the impact on growth potential and productivity at national and regional levels and on customers. The commission also calls for a practical plan to build the required skills across employers, employees, education and training providers, and government, taking account of the Spending Review, with cost-benefit analysis where appropriate. Delivery will be supported by the City of London Corporation, TheCityUK, Lloyds Banking Group and PwC, and the FSSC is asked to work with HM Treasury officials and Skills England. HM Treasury expects to monitor progress ahead of publication in 2026. The Financial Services Growth and Competitiveness Strategy envisaged a final report to HM Treasury by mid-2027, with scope for earlier delivery and potentially more than one report.
HM Treasury 2025-11-05
HM Treasury commissions Financial Services Skills Commission report on AI and disruptive technology skills needs
HM Treasury has tasked the Financial Services Skills Commission with researching the skills implications of artificial intelligence and other disruptive technologies for UK financial services. The initiative will assess the impact on business practices, workforce needs, and productivity over the next decade, with support from key industry stakeholders. A final report is expected by mid-2027, with potential for earlier updates.