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The financial sector is poised for significant changes, with 16% of job roles expected to transform due to AI, according to Human Resources Minister Steven Sim. Key roles affected include customer service officers and investment analysts, while 75% of positions will see medium to low impact. New roles such as Machine Learning Specialists and cloud engineers are anticipated to emerge as AI continues to evolve in the industry.
In the ICT sector, 8% of roles will be highly impacted, with emerging skills like automation management gaining importance. AI is streamlining processes, significantly reducing grant application processing times at HRD Corp from 154 hours to just 19 hours. The collaboration with partner ministries aims to ensure that skills education aligns with real-world needs, addressing gaps in the workforce.
• 16% of financial sector jobs will transform due to AI advancements.
• AI significantly reduces processing times for grant applications and eligibility verification.
These roles are expected to emerge in the financial sector as AI technology advances.
Their importance is growing as organizations increasingly adopt cloud solutions in conjunction with AI.
This skill is becoming crucial in the ICT sector as AI technologies are integrated into business operations.
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