AIDA Centre of Excellence: IMDA partners UOB and NUS to build a future-ready AI workforce

Singapore’s digital economy isn’t just growing across the years – it’s reshaping industries and opening doors for innovation. This transformation, contributing a substantial $113 billion annually, drove 11.2% Compound Annual Growth Rate (CAGR) in Gross Domestic Product (GDP) from 2018 to 2023, with much of the growth driven by digital transformation across non-tech sectors like finance, retail, and manufacturing¹. As industries adapt to stay competitive, resilient, and future-ready, the demand for skilled tech talent remains strong.

Within the fast-evolving Financial Technology (FinTech) ecosystem, workforce projections show a 30% increase in the next year or two, yet 56% of firms in the sector report a significant skills gap in Artificial Intelligence (AI) and data analytics². For these firms, AI expertise is essential for powering everything from risk assessment and fraud detection to personalised customer insights. As banks and FinTech companies race to innovate, skilled professionals with AI expertise are the ones holding the keys to the future. To meet this demand and bridge the skills gap, IMDA has partnered with UOB and NUS to launch the AI and Data Analytics Centre of Excellence (AIDA CoE). More than just an educational programme, this industry-certified qualification is designed to nurture a new generation of AI experts equipped with cutting-edge skills in emerging technologies.

AIDA CoE: Paving the way for Singapore’s AI landscape

The AIDA CoE offers job opportunities with a curated training programme that combines certifiable AI training course, mentorship and on-the-job training, creating a launchpad for Singapore’s future AI and Data Analytics leaders.

AIDA CoE is part of IMDA’s Company-Led Training (CLT) programme under the TechSkills Accelerator (TeSA) initiative; playing a key role in meeting the growing demand for AI talent. It enables aspiring individuals from diverse backgrounds to upskill in digital knowledge with certifiable AI skills and step directly into roles that demand precision, insight, and a forward-thinking approach. Commenting on the initiative, Minister for Manpower Dr. Tan See Leng noted, “IMDA will also work with UOB to develop AI practitioners under the TechSkills Accelerator (TeSA) initiative. Those who complete the programme can look forward to joining UOB’s key services and operations.”

As industries ramp up their efforts in digital transformation, financial institutions like UOB are at a critical juncture. New technologies promise advancements in several areas such as risk management, fraud-detection, optimising investments, reshaping customer interactions, and streamlining decision-making³. However, the shortage of skilled professionals is a prevailing challenge and can slow the sector’s digital shift. By offering structured training and resources to equip ICT and non-ICT professionals with critical skills in AI and data analytics, the AIDA CoE effectively fills this gap, developing highly trained professionals ready to drive AI-powered innovation and unlock further benefits for organisations and their professionals.

UOB plans to take in 100 participants to offer specialised training within UOB business units and deploy them for positions such as AI/Machine Learning (ML) Engineers, Data Engineers, and Data Scientists. This initiative not only supports a critical tech talent pipeline for the financial industry, but also strengthens Singapore’s position as a hub for AI expertise and acts as a model for impactful tech talent development in the region. In line with the National AI Strategy 2.0 (NAIS 2.0) goals, the AIDA CoE contributes towards building a robust ecosystem of 15,000 AI practitioners to support growing AI talent demand in Singapore.

When highlighting the broader impact of AIDA CoE, Dr Tan emphasised, “AI-powered chatbots and virtual assistants are already being deployed in customer service and advisory roles. Looking forward, AI will only have greater impact and will revolutionise credit underwriting, investment management and wealth advisory.” By equipping professionals with cutting-edge skills, AIDA CoE is setting Singapore’s finance sector on a trajectory to fully harness AI’s potential.

Ultimately, AIDA CoE is more than a partnership – it’s a cornerstone for a new era in Singapore’s financial industry. By laying this groundwork, IMDA, UOB, and NUS are not only preparing for today’s demands but also setting a powerful example for other institutions.

IMDA’s CLT Programme: Empowering professionals through tech place and train opportunities

In response to the nation’s digital transformation, IMDA’s CLT programme supports the development of a tech-savvy workforce. In partnership with industry leaders, the programme provides structured, hands-on training in fields such as AI, cyber security, and data analytics. The CLT programme helps professionals gain the expertise they need to succeed in today’s digital landscape while ensuring that companies have a steady stream of highly skilled personnel to count on. IMDA’s CLT programme has helped many professionals successfully pivot into the digital domain, empowering them to play an active role in Singapore’s transformation into a global tech leader.

The path to transforming careers and unlocking new opportunities

As the digital revolution continues, the AIDA CoE stands as a powerful catalyst for growth. By bridging the critical skills gap in AI and data analytics, the initiative empowers both businesses and professionals with the tools they need to thrive in an ever-evolving tech landscape. Companies can unlock the power of AI, professionals can position themselves at the forefront of digital progress, and Singapore reinforces its position as a global leader in digital innovation.

AIDA CoE is only the beginning of a broader dialogue on expanding the capabilities of AI and data analytics across diverse industries. If you are a company looking to level up or expand your team’s AI and digital capabilities, or are a fresh or mid-career professional who is keen to advance your career in tech, explore opportunities under CLT Programme today or email TeSA@imda.gov.sg to find out more.