Hong Kong Central Bank Examines AI's Impact on Banking Workforce

Hong Kong Central Bank Examines AI's Impact on Banking Workforce



The Hong Kong Monetary Authority (HKMA) is actively evaluating the influence of artificial intelligence (AI) on the banking sector's workforce. As AI technology evolves, the central bank emphasizes the importance of preparing employees to "coexist with technology in the AI era," according to HKMA Deputy Chief Executive Arthur Yuen.



On May 23, the HKMA encouraged financial institutions to develop workforce training and development strategies to address AI's growing presence in banking. Yuen noted that some banks have already re-skilled their staff for new roles, citing instances where 2% of bank employees transitioned into positions such as wealth management, risk management, and compliance after completing training programs.



The HKMA updated its Supervisory Policy Manual to reflect the need for clear workforce development


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