Fair Future for Finance

The UK is established as a world leader in financial services, and the sector contributes hundreds of billions of pounds to the British, European and Global economies every year.

At the heart of that enormous contribution is Britain’s finance workforce: the bedrock of dedication, skills and expertise which has helped grow the sector grow into the powerhouse it is today.

Without that workforce — which includes many of our members in accountancy, auditing, banking, financial advice, insurance and pensions — the sector would not have been able to weather the storms it has faced over the last decade or more, from global recessions to the impact of Brexit.

Looking ahead to the future, the finance sector faces challenges and opportunities linked to the growth of AI. We are calling on employers and government to take steps now to ensure that workers in the sector are prepared for the AI revolution, and that they have the skills they need to harness its potential in their work – whether they are new to the sector or more experienced workers.

We also want to see employers take steps to ensure that AI will be used in a responsible way, not as an excuse to undercut staff or row back on hard-won workplace rights and protections. Employers also need to consider the well-being implications of AI use and the potential for intellectual burnout if AI removes some simpler day-to-day tasks.

We know that working people across the UK are ready and willing to engage with AI — we’ve seen this first-hand through our successful AI training partnership with Google. It’s clear there is now a generational opportunity to ensure that the future of work is one where technology empowers workers — particularly in the fast-paced world of finance. That means we need to take steps now to seize the moment.

Our Fair Future for Finance campaign aims to:

• Ensure that AI does not limit entry level pathways into the finance sector, and that apprenticeships incorporate AI to prepare finance workers for the future.
• Support the provision of training and opportunities to ensure that AI and new technologies are accessible to existing finance sector workers, allowing them to continue to fully engage with the changing modern workplace.
• Encourage companies to adopt responsible AI policies in the finance sector through signing our charter, ensuring that new technologies are not used for undue surveillance activity or to undermine and impinge upon workplace rights and protections. Employees and reps should be included in discussions on AI to ensure that they are taken along on the journey and involved in the process.