Addressing the skills gap for 2030: Reskilling and upskilling in financial services

The finance and capital markets stand at a critical juncture, with technological advancements, economic shifts, and workforce evolution reshaping industry demands. Among these changes, the need for reskilling and upskilling has emerged as a top priority. Insights from the World Economic Forum’s Future of Jobs Report 2025 reveal that bridging the skills gap is both a challenge and an opportunity for organisations aiming to remain competitive in a fast-changing landscape.

Key takeaways

  • 66% of financial organisations cite skills shortages as the primary barrier to transformation.
  • By 2030, 38% of tasks will be fully automated, underscoring the need for reskilling initiatives.
  • Core competencies identified include AI and big data proficiency, cybersecurity skills, analytical thinking, and adaptability.
  • 87% of employers in the finance sector are investing in reskilling programs to address skill gaps and build future-ready teams.
  • Lifelong learning initiatives, DEI strategies, and flexible work policies are at the forefront of workforce development efforts.

The scope of the skills gap

Skill gaps represent the most significant barrier to transformation for financial services, with 66% of organisations identifying it as a primary challenge. Rapid advancements in AI, big data, and automation are driving this need for new capabilities. By 2030, 38% of tasks in the finance sector are expected to be managed by technology, up from the current 21%, while tasks executed by human-technology collaboration will remain consistent at 35%.

The industry lags behind the global average in reskilling efforts, with only 34% of employees currently undergoing such training compared to 50% across all sectors. This disparity highlights both a challenge for organisations and an opportunity to invest in workforce development.

Skills in high demand

The rapid adoption of AI and big data technologies underpins the demand for technical and digital proficiencies. Core skills projected to grow include AI and big data proficiency, technological literacy, and networks and cybersecurity expertise. Emerging roles, such as AI specialists, big data analysts, and cybersecurity managers, are accelerating at a remarkable pace. For instance, the demand for big data specialists is expected to grow by 113%, with organisations increasingly prioritizing this expertise to remain data-driven in their operations.

Beyond technical skills, the sector also values soft skills. Analytical thinking is identified by 80% of financial employers as a top priority for 2025. Similarly, traits such as adaptability, flexibility, creativity and leadership are critical as organisations strive to foster an environment equipped to manage rapid change.

Approaches to workforce development

Organisations expect that around 46% of individuals would need to be upskilled in their current role, or upskilled and redeployed within the organisation. The report suggests that just 12% of the workforce in finance and capital markets would not need to be upskilled in any way.

To close the skills gap, 71% of financial employers plan to prioritize reskilling initiatives. These strategies include internal training programmes, leveraging partnerships with training providers, and creating mentorship opportunities to transfer knowledge between employees.

Adopting lifelong learning

Employers in the finance and capital markets sector increasingly recognize the need for ongoing learning. According to the WEF report, 87% intend to upskill their workforce to ensure employees can adapt to future market requirements. Additionally, 73% of organisations plan to hire staff with new skills aligned with emerging industry trends. These efforts aim to future-proof the financial workforce, equipping employees to increasingly take advantage of the new technologies and processes.

To read the full ‘Future of Jobs Report 2025’ visit the World Economic Forum website.

Discover how the Global Institute of Credit Professionals can help businesses to upskill and reskill their teams. Reach out to us at institute@gicp.org to discuss opportunities, including our flagship Global Credit Certificate—an essential credential for staying ahead in the industry.

Future of Jobs Report 2025
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