Reeves to launch City ‘skills compact’ committing firms to retrain staff in AI

Chancellor Rachel Reeves will launch a City 'skills compact' on Tuesday, committing financial firms including Barclays and Lloyds to retrain thousands of workers for the AI revolution. The government-backed initiative aims to help employees keep pace with technological changes that have raised fears of mass redundancies.

Reeves to launch City ‘skills compact’ committing firms to retrain staff in AI The Guardian Technology https://www.theguardian.com/us/technology Exclusive: Plan to improve skills of thousands of financial sector workers to keep pace with tech revolution Chancellor Rachel Reeves is to announce a new City “skills compact” that will commit firms such as Barclays and Lloyds to retraining thousands of financial sector workers for the AI revolution. The financial services skills compact will be launched on Tuesday, during what is likely to be Reeves’s final Mansion House speech to City bosses before Andy Burnham’s expected takeover of No 10. The government-backed initiative will commit employers to improving workers’ skills and helping them “keep pace” with significant technological changes that have prompted fears of mass redundancies. Continue reading... Exclusive: Plan to improve skills of thousands of financial sector workers to keep pace with tech revolution Chancellor Rachel Reeves is to announce a new City “skills compact” that will commit firms such as Barclays and Lloyds to retraining thousands of financial sector workers for the AI revolution. The financial services skills compact will be launched on Tuesday, during what is likely to be Reeves’s final Mansion House speech to City bosses before Andy Burnham’s expected takeover of No 10. The government-backed initiative will commit employers to improving workers’ skills and helping them “keep pace” with significant technological changes that have prompted fears of mass redundancies. Continue reading... https://www.theguardian.com/business/2026/jul/10/rachel-reeves-city-skills-compact-ai-training Get AI news in your inbox Daily digest of what matters in AI.