WITH the rise of data analytics and automation, the next three to five years may see a third of job roles in Singapore's finance industry performed by fewer workers, potentially reducing overall demand for workers in specific job roles. Read more at The Business Times.
WITH the rise of data analytics and automation, the next three to five years may see a third of job roles in Singapore's finance industry performed by fewer workers, potentially reducing overall demand for workers in specific job roles.
That's according to fresh findings on the impact of data analytics and automation on the future workforce, released on Tuesday by the Monetary Authority of Singapore and the Institute of Banking and Finance . The study focuses on three technology trends which are shifting the nature of job roles in the financial services industry: robotic process automation, advanced analytics and artificial intelligence.
It covers 121 job roles - representing over 90 per cent of jobs in the financial sector - across front office, mid-office, back office, and enterprise functions in Singapore's financial services industry.Of those, 40 job roles may be converged or displaced as the range of job tasks performed by those roles are prone to automation, the report said. Such roles include that of a bancassurance officer in retail and corporate banking, and investment performance analyst in asset management.
Tech advancements are also expected to create new roles in areas such as information technology, data and analytics, and compliance and marketing. On Tuesday, IBF also launched a Technology in Finance Immersion Programme, which aims to develop a pipeline of talent for technology roles in the finance industry.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
About one in three motorcycles at least 15 years old scrapped under rebate incentive schemeSINGAPORE - About a third of motorcycles affected by a scheme to persuade owners to scrap their old, polluting two-wheelers have been scrapped a year after the incentive was announced.. Read more at straitstimes.com.
Read more »
Pan claims first tour win by one stroke over KucharTaiwan's Pan Cheng-tsung won his first PGA Tour tournament with a one-stroke victory over Matt Kuchar as world number one Dustin Johnson stumbled ...
Read more »
Defeat by Fabio Fognini one of my worst matches on clay: Rafael NadalRafael Nadal admitted that it will be 'hard to return to the practice court' after a shock semi-final defeat by Fabio Fognini ended his bid for a record-extending 12th Monte Carlo Masters title on Saturday. The 17-time Grand Slam champion starts his Barcelona Open title...
Read more »
Falling water levels in Johor leave one million at risk of dry tapsKUALA LUMPUR, April 21 — Around a million people in Johor may be affected by water disruptions as three dams in the state supplying raw water to treatment plants have fallen below their critical...
Read more »
Barca put one hand on title after edging past SociedadBarcelona closed in on the La Liga title on Saturday after earning a hard-fought 2-1 win over Real Sociedad at the Nou Camp, with goals from ...
Read more »
Samsung could become one of Orange's providers for French 5G licenceSamsung Electronics could become one of Orange's providers for a possible 5G telecoms frequency in France, said Orange's head Stephane Richard on ...
Read more »
No Brexit more likely than a disorderly one: economists[LONDON] The chances that Brexit will be cancelled are now greater than the chances Britain will leave the European Union (EU) without a deal, according to economists in a Reuters poll, who again pushed back their expectations for when the Bank of England will raise interest rates. Read more at The Business Times.
Read more »
Makansutra: The one-dish master of Katong LaksaThis is a shout-out to and a standing ovation for hawkers who offer just one dish. In our very fickle food nation, crowded with new players every day and noisy with all sorts of promotional gongs and drumbeats, it is hard to actually hear your own thoughts on what really...
Read more »
US retail sales post biggest gain in one-and-a-half years in MarchU.S. retail sales increased by the most in 1-1/2 years in March as households boosted purchases of motor vehicles and a range of other goods, the ...
Read more »
One month, 500,000 face scans: How China is using AI to profile a minority
Read more »