Technology Record - Issue 31: Winter 2023

97 VIEWPOINT FINANCIAL SERVICES Helping employees to be more independent Financial services organisations are facing a digital skills shortage, but artificial intelligence-enabled tools like Infosys Wingspan can help them to reimagine the way their workforce operates Like every other industry, the financial services sector needs a workforce that understands the business inside out. But this is far from reality, owing to the lack of structured skilling and reskilling programmes, which is resulting in wide knowledge gaps. One of the most evident knowledge gaps lies in digital skills, which are essential for financial services organisations to deliver today’s technology-enabled services. With the increasing and unmet demand for cybersecurity, data analysis and website algorithms, we have noticed how IT-related roles have been understaffed and overworked over the past few years. The financial services industry has been steadily adopting technological innovations and these developments need to be supported by employees with specialised skills. Unfortunately, financial services firms are not prioritising hiring employees with the skills necessary to use these technologies. What the industry urgently needs is a productive workforce with a more streamlined ability to execute tasks. In the absence of timely measures to remediate this issue, the financial services industry will soon be facing an unavoidable crisis where mid-management professionals – the ones running and overseeing critical operations of organisations – will miss the AI hype, depriving them of the extensive benefits it can deliver. The need of the hour is to invest in structures to skill, upskill and reskill new and old employees, ensuring they are better prepared for an unknown future. To address this evolving business need, Infosys offers Wingspan, an AI-powered learning solution that helps organisations accelerate their journey towards transforming employee skills. It is a cloud-first, mobilefirst solution that is designed to be accessible anytime, anywhere and on any device. Organisations using Wingspan can facilitate a culture of learning and collaboration for their employees, while enabling leaders to derive strategic insights to track talent productivity. Infosys has partnered with leading banks to help train their employees with Wingspan. For example, a large UK-based bank leveraged the platform to help transform the talent of new hires across geographies from the moment they were onboarded. Wingspan helped the firm to ensure that all employees were constantly learning and becoming resilient, even while working remotely. Prasanth Korancharath is a senior technology architect of Microsoft Practice at Infosys PRASANTH KORANCHARATH: INFOSYS “The need of the hour is to invest in structures to skill, upskill and reskill new and old employees, ensuring they are better prepared for an unknown future”