New HM Treasury commissioned report on “AI preparedness is critical to financial services growth” published

A new HM Treasury commissioned report,  ‘A Workforce Transformed’ – Technology, skills, and the future of work in financial services’ has been published (May 2026).  The report explores how AI and other disruptive technologies will reshape roles, skills, and the future of work across the sector.   It finds that the financial services sector is on the brink of profound technological change. But the scale of workforce transformation ahead may be far greater than many realise.

This is the first report from our landmark research programme into the impact of AI on the financial services workforce. Key takeaways include:

• The sector is entering a period of profound technological change. AI is set to fundamentally change up to 50% of tasks in most financial services roles
• Technology is already being successfully deployed across the industry. However, as adoption scales, the impact on how people work has possibly been understated
• Amidst this change, the sector will need to recruit and train 450,000 highly skilled people over the next 10 years to replace those expected to leave
• Failure to prepare at the scale of the challenge will pose a serious threat to economic growth
• Workforce planning must evolve, with an increased need to invest at scale in new talent, and upskill and reskill the existing workforce.

Thames Valley Chamber of Commerce member, Royal Holloway University of London’s Nisreen Ameen, contributed to the policy-facing industry report which can be read in full via the following link: https://lnkd.in/dr2vVBHZ