Multiverse warns financial sector over growing AI skills gap as leaders fear redundancy
Multiverse report warns of AI skills gap in UK financial services
Multiverse, a workforce training company specializing in applied digital, data, and AI skills, has published new research showing that AI adoption in the UK financial sector is advancing faster than employee readiness.
The study, based on a survey of 157 financial services leaders, found that although 67% of organizations have implemented AI for process automation, only 37% report transformative business results. Adoption is widespread across areas such as customer service, cybersecurity, and fraud detection, but many firms are not seeing the level of return they expected.
Nearly half of respondents said they are achieving only moderate benefits from AI use, and 9% admitted they do not measure the impact of their AI initiatives at all.
Skills and training lag behind deployment
One in ten leaders surveyed said they are concerned about redundancy if they do not develop the skills needed to adapt to AI-driven change. Despite this, just 46% of firms are making significant investments in AI upskilling, and 11% have no formal AI training programs in place.
Respondents cited specific areas where skills shortages are slowing progress. 40% said their organizations lack the ability to build AI features. 37% pointed to difficulties identifying appropriate use cases, while one-third said they struggle with implementing AI projects effectively.
Anna Wang, Head of AI at Multiverse, said:
“Great transformation isn’t just about technology. It’s about empowering people with the right skills to unlock AI’s full potential. As it stands, the financial services industry is at a crossroads. Its future isn't written by algorithms, but by the people who understand how to make those algorithms work for their organizations.”
