94% Of Financial Services Firms Say AI Is The Most In Demand Technical Skill

A total of 94% of financial services firms say that AI and machine learning is now the most in-demand skill within their organisation, according to a new report from the Financial Services Skills Commission.

The annual report, published this week, revealed that three quarters of companies said they found that AI impacted demand for skills in their organisation last year.

Overall, the data revealed that there was a 28% gap for AI skills between supply and demand, and a 31% gap in cyber.

The research also revealed that firms use of AI has evolved beyond core tasks such as notetaking and meeting preparation. Instead, AI use now encompasses more sophisticated tasks, such as operational efficiency and improving services for customers.

Many businesses within the report stated that wide-scale deployments of AI platforms such as Microsoft Copilot, ChatGPT and Aiden are now in progress. One company noted that these changes are intended to help retain strategically critical roles in the UK, while transactional processes may be automated or off-shored.

Responding to the findings, Dmitry Tikhomirov, VP, Technology Solutions, EPAM, which was awarded the 2025 Microsoft Innovate with Azure AI Platform Partner of the Year Award said: “AI is reshaping organizations – improving efficiency and opening up new opportunities for long-term change. But seeing real value from AI takes more than technology alone. It requires business and technology leaders working closely together, with the right platforms and skills in place, so adoption is clearly tied to strategic goals.

“When that alignment is right, AI can move from experimentation into the heart of core operations and deliver business impact,” he added.

EPAM won the Microsoft award by showcasing its innovation with Albert Heijn, the Netherlands’ largest retailer, to develop a scalable GenAI platform that accelerates the implementation of AI-enabled use cases while ensuring proper governance and security.

In collaboration with Microsoft, Albert Heijn and EPAM created an AI-powered virtual assistant integrated into the employee app, which enables store teams to quickly access product and stock information. The solution simplifies restocking, enhances customer support and streamlines onboarding, demonstrating how Albert Heijn is leveraging innovative AI technology to empower employees and enhance customer experience.

Ritesh Singhania, CEO, Zango AI added: “The growing AI skills gap means financial services are sleepwalking into a crisis. Too many firms have rushed to deploy AI without the training to enable workers to use these tools correctly – or to challenge them when they go wrong. Without those capabilities, effective oversight of AI systems is impossible in practice, and the end result is an industry exposed to compliance and cyber breaches. AI has enormous potential to strengthen compliance, drive productivity and transform the sector – but only if firms invest in the human capabilities needed to realise it.”

Raj Abrol, CEO of AI firm Galytix said, “AI is here to stay, and the sooner businesses wake up to this fact the better. The technology is set to bring sweeping changes to the way organisations manage risk and decision-making. At a time of immense uncertainty, the ability to accurately assess and respond to shifting risk profiles can be accelerated through AI. With uncertainty now the new normal, market intelligence data is an essential asset, and will help reassure investors and risk managers in complex times.”