HKMA: Hong Kong Faces Talent Shortage in AI, Green Finance
There are supply challenges for the banking sector's talent pool in the coming years, especially in artificial intelligence and sustainability.
In the next five years, Hong Kong faces a talent shortage in artificial intelligence (AI), green finance and expertise related to the Middle East and ASEAN markets, according to a study by the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks and the Hong Kong Institute of Bankers.
In an «SCMP» report, HKMA deputy chief Arthur Yuen suggested that the industry upskill staff to plug the gap rather than compete for existing talent via higher pay.
«A robust business environment supported by a sufficiently large and skilled talent pool is essential for maintaining Hong Kong’s status as a leading international financial centre,» Yuen said.
Mostly Positive Outlook
On the outlook for the coming half a decade, 57 percent of bank respondents said that they were optimistic, while 11 percent believed there would be challenges due to geopolitical tensions.
The study, entitled «Capacity Building for Future Banking 2026-2030», was based on a survey of 147 banks conducted in the first quarter of this year.
