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

According to The Guardian, UK Chancellor Rachel Reeves is set to announce a new 'skills compact' this week that will require major financial firms like Barclays and Lloyds to retrain thousands of workers in artificial intelligence. The government-backed initiative aims to help financial sector employees keep pace with rapid technological changes amid concerns about potential mass job losses. The announcement will come during Reeves's Mansion House speech to City leaders—what's expected to be her final address in the role before political transitions take hold.

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