Data released by Degreed reveals that a mix of human and technical skills is in demand for people working in a sector heavily impacted by the rise of new technologies while suffering from a widening skills gap
Pleasanton, CA, 16th April 2024 – Degreed, the enterprise platform that makes it easier for hundreds of companies globally to engage their workforce in skills-first learning, released a list of the top 10 skills people working in financial services are interested in learning. The list reveals a mix of human and technical skills as the most sought-after areas of interest for learners working in a sector that is being heavily impacted by the rise of new technologies, such as artificial intelligence (AI), and is suffering from a widening skills gap.
Top 10 skills for the financial services*:
- Leadership;
- Problem-Solving;
- Data Analytics;
- Project Management;
- Risk Management;
- Communication;
- Collaboration;
- Machine Learning
- Customer Service;
- Python.
Technological advancements, demographic shifts, and changing consumer expectations are some of the factors augmenting the skills needed to thrive in finance. A report issued by the Financial Services Skills Commission (FSSC) last year stated that the demand for tech skills continued to grow, with 1 in 8 roles in financial services now being a tech role – double the proportion compared to the wider economy. According to the FSSC, there is currently a 20% gap between demand and supply for technical skills.
The lack of such skills can have a direct impact on productivity, growth, and competitiveness, and, if left unchecked, can limit the sector’s ability to innovate, grow, and serve its customers.
Janice Burns, Chief Transformation Officer at Degreed, said: “The AI boom, coupled with economic uncertainty, means employees need to adapt at a moment’s notice to changing markets and new opportunities. Particularly within the financial sector, where keeping on-top of changes and having an evolving skillset can help professionals unlock new growth opportunities and efficiencies for their employers. As the data shows, succeeding in the AI age requires more than just technical skills. Problem solving, risk management, and leadership skills are just as important as Python and data analytics, because they enable teams to work effectively together and navigate the complex changes brought about by generative AI, other AI models, and automation.”
Editors Notes
* Top skills are based on the number of follows a particular skill has had in the Degreed platform over the past three months (January to March 2024) indicating user interest in learning that skill.
About Degreed
Degreed is a technology suite that combines lifelong learning and data-driven development so organizations can collect, understand and build skills for greater impact, evolving how their workforce works.
Degreed is the only learning platform that makes it easy for companies to deliver daily learning, deep skill-building, education benefits, real-time insights and expert services, while connecting to the most robust and open ecosystem. Each day, over 9 million learners from hundreds of global companies use Degreed to gain the skills to grow in their careers.
Degreed, founded in 2012, launched with the mission of “jailbreaking the degree” where all skills are recognized, irrespective of how they are acquired. Degreed is headquartered in Pleasanton, California, with offices in Salt Lake City, New York, London, Amsterdam, and Brisbane.
