City minister backs financial services sector skills compact

AI skills gap poses ‘real threat’

Economic secretary to the Treasury and City minister Emma Reynolds has thrown support behind a financial services sector compact on skills, to be spearheaded by the Financial Services Skills Commission (FSSC).

In a letter to FSSC chair Mark Hoban, Reynolds acknowledged that there are "skills gaps that the sector faces and the challenges from the impact of rapidly increasing digitalisation, from artificial intelligence (AI) and other emerging technologies, are critical issues that we must come together to address". The city minister described the gap as a "real threat to realising growth and providing opportunities for people throughout the country". Campaign group pushes for Leeds Reforms parliamentary inquiry and pause Reynolds both accepted the proposal and confirmed that HM Treasury r...