Hong Kong banks race to hire AI-ready talent as skill gap widens

Software development will be the biggest talent shortfall by 2030.

Hong Kong job seekers will increasingly need the ability to work with and manage artificial intelligence (AI)  tools—from understanding how automated systems make decisions to checking for errors—as banks rely more heavily on data and machine learning, analysts said.

“Skill gaps continue to persist in sustainable finance, compliance, and data analysis,” Dora Leung, senior manager in banking and financial services at recruitment company Randstad Hong Kong Ltd., told the magazine.

“Upskilling efforts and targeted training have helped narrow the gap, but talent must continue to keep pace with changing regulations and AI tool integration,” she said in an emailed reply to questions.

The ability to understand and use AI systems will become one of the fastest-rising skill needs in the sector, according to a study by the Hong Kong Monetary Authority (HKMA). Software development is also projected to be the biggest skill gap by 2030, with 36% of banks identifying it as a major constraint.

“To future-proof careers in an increasingly automated environment, banking professionals have to acquire the skills needed to communicate and interact with AI systems effectively,” Hong Kong’s central bank said, adding that digital automation is already influencing how banks assess performance, manage risk and deliver services.

Yet banks are struggling to bring in AI and data specialists at the speed they want. Demand for machine-learning talent is high across industries, and candidates who are strong in AI often lack experience working in a highly regulated environment, said Wisely Wong, senior director at Hays Hong Kong Ltd.

“Banking is a regulated sector. Even experienced AI hires still take time to warm up and understand banking products and compliance constraints, which delays impact,” he said in an emailed reply to questions.

HKMA’s study noted that banks’ adoption of big data, AI and automation would continue to expand even as a shortage in specialist talent remains a bottleneck. Some lenders have launched in-house training to accelerate adoption.

UBS Group AG and DBS Bank Ltd. have rolled out AI-focused certification programmes to help employees understand how to use the tools in risk, operations and customer management, said Justin Tan, head of L.E.K. Consulting’s Asia financial service practice.

“Senior management needs to walk the talk and ensure they themselves are conversant in the new paradigm,” Tan said, adding that support, incentives and engagement from leadership are essential.

Despite the rapid growth in demand for AI-literate talent, adoption across financial services remains uneven.

Mercer’s Global Talent Trends 2025 report showed only 37% of companies use generative AI regularly and just 7% think AI has fundamentally changed their business model. Many cite heightened operational and reputational risks from misuse of the technology.

To close the gap, Leung said employers should shift toward skill-based hiring rather than prioritising past experience. Recruiters said administrative roles remain the most vulnerable to automation, including in finance.

“Organisations are likely to become smaller but potentially more profitable because the goal is to make more money, but with lower employment costs,” John Mullally, managing director in Hong Kong at Robert Walters Plc., told the magazine by telephone.

He added that many workers have specialised too narrowly and would need broader skill sets to stay competitive.

Mercer found that half of organisations are redesigning work to boost productivity, whilst 61% are in the early stages of becoming “skill-powered.” Firms further along in this transition report higher retention, engagement and output.