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New skills in an AI world in finance
Journal of Digital Banking,
8
(3),
263-274
(2023)
Abstract
The financial industry has undergone a transformation over the last 10 years, with FinTech now being worth more than a third of banking, and five of the top 10 financial services are now digital-based businesses. Nowadays, an increasing number of AI technologies, notably the Large Language Models (LLMs) like ChatGPT, are accelerating the disruption in the industry. The industry has changed, and the skills required in today’s landscape are different from the ones needed previously, resulting in a widening knowledge gap. This paper maintains that skills in an AI-powered world in finance are not confined to hard skills alone, but also encompass soft skills, industry knowledge, mindset and experience. The paper provides a long-term solution for the industry to acquire up-to-date skills and build a more resilient ecosystem in finance.
Keywords: skills; finance; FinTech; AI; education; lifelong learning
The full article is available to subscribers to the journal.
Author's Biography
Tram Anh Nguyen is co-founder of CFTE, a global impact platform for education in FinTech and the future of financial services. Tram Anh strongly believes that in a world dominated by technology, people must remain at the centre of society and organisations, and that education and training are key to helping individuals adapt to a fast changing world. This was the motivation that drove her to launch CFTE to help finance professionals up-skill, find more opportunities and build better finance. CFTE platform includes industry experts (from heads of innovation in banks to CEOs of challenger banks and CEOs of FinTech VCs), created a platform that helps the industry acquire this knowledge quickly, from Fintech to Artificial Intelligence with an engaged community 100,000+ alumni from around the world. She is instrumental in providing lifelong learning solution working with governments, policymakers, industry experts and academia to push initiatives in financial education for Finance 2.0. She followed her passion to bring about a skills revolution in finance to not only transform the industry but to help a multitude of stakeholders, like women and people from different backgrounds and walks of life, to enter the new world of finance and to provide education of the Fintech at global scale. A few of Tram Anh’s significant achievements is the FinTech Job Report Book, Co-author of the New Skills in the financial services. Tram Anh serves as a Non Executive Director of Passerelles Numeriques. She holds Advisory Board Roles, including being on the board Advisory of Elevandi in Japan. She is an Entrepreneurship Expert at Saïd Business School, Oxford, and is an Industry Fellow of Imperial College. She is an Honoured Ambassador to the Singapore FinTech Festival and Ambassador to the Inclusive Fintech Forum. Prior to co-founding CFTE, she has navigated between the corporate and entrepreneurial world, she has a diverse background in finance with 18 years of experience having worked in trading, institutional sales and private banking for major financial institutions such as Standard Chartered in New York, Dresdner Kleinwort and UBS Wealth Management London, Advisor to family offices. Of Vietnamese origin, Tram Anh was born in France and lived in Paris, New York and now London.
