UOB to create 1,000 roles even as concerns rise over AI’s impact on entry-level roles for fresh grads

The roles will mostly comprise permanent positions in personal financial services and anti-money laundering, as well as early-career opportunities

PHOTO: UOB

Sheila Chiang

• – UOB plans to hire 1,000 fresh graduates in 12 months, despite fears that AI will reduce entry-level jobs.
• – The roles, made up mostly of permanent positions, will be in personal financial services and anti-money laundering, as well as early-career opportunities.
• – UOB will also train 5,500 managers by 2027 and expand Gig+U for flexible roles, as Wee Ee Cheong says human judgement still matters.

AI generated

SINGAPORE – UOB expects to hire 1,000 young graduates over the next 12 months, even as concerns swirl over the impact of the rapid adoption of artificial intelligence on hiring for entry-level jobs

The roles, made up mostly of permanent positions, will span personal financial services and anti-money laundering roles, as well as early-career opportunities through the Future Bankers Programme, Management Associate Programme and internship programmes

The bank is also equipping 5,500 managers across the region with skills to become better leaders in an AI-enabled workplace by the end of 2027, as well as enhancing its Gig+U programme to allow experienced professionals to contribute their expertise in customer-facing and sales advisory roles

Announcing these initiatives at UOB’s annual employee festival Better U on Oct 8, chief executive Wee Ee Cheong said that while AI can perform many routine tasks currently done by entry-level staff and fresh graduates, investing in people and human judgment will matter more than ever

“So, do we stop hiring? No. We will continue to hire because you still need humans to sell, to make decisions. Young people need opportunities to gain experience, build expertise and develop their careers,” Wee said, addressing about 100 staff at the UOB Employee Clubhouse in Boat Quay

The bank will also train these 1,000 young people as it commits to investing in the next generation, he added

Russell Yong, 25, and Shrutikhaa Katakam, 22, are among the first cohort under the bank’s 2026 Future Bankers Programme, a two-year pathway that provides structured training, rotations and hands-on experience in wealth advisory and retail banking

The programme runs four cohorts with a total of about 100 participants each year, including early-career professionals

Yong, a Singapore Management University business management graduate, said such programmes are valuable in giving young professionals greater confidence and preparing them for the challenges ahead

Katakam, who graduated with a computer science degree from Nanyang Technological University, said she found the opportunity to network with the bank’s leaders particularly valuable when she was first invited to hear about the programme

She also had the opportunity to speak with them about their work styles and day-to-day responsibilities. Katakam said that this direct exposure to experienced leaders gave her valuable insights into the industry and helped her better understand what to expect in her own career

Asked if they are worried as the workforce faces disruptions from AI, both Yong and Katakam said that staying open-minded is increasingly important as fresh graduates

Katakam added that as a fresh graduate, it is important to develop both hard and soft skills amid the rise of AI

Having strong technical knowledge would allow them to assess and verify the accuracy of information generated by AI, while soft skills such as communication and problem-solving remain essential capabilities that AI cannot easily replace

She said these skills are particularly relevant in the finance industry, which is highly people-facing, and added that honing these skills was one of the reasons she was interested in joining the Future Bankers Programme

Yong said expectations for fresh graduates have increased, with employers increasingly looking for candidates who already have relevant experience, including internships, before entering the workforce

He noted that these expectations have continued to evolve over the years, with AI adding another layer of pressure for graduates to demonstrate their value

As routine tasks become increasingly automated, he said fresh graduates may face greater challenges in finding ways to contribute beyond these tasks when they enter the workforce

Yong, who uses AI to do tasks such as drafting e-mails or managing appointments, said it is important to continually keep tabs on how AI is evolving

He currently aspires to work in private banking, with potential opportunities in sales, portfolio management or fund management, but said he will remain open-minded as he gains more exposure and discovers other opportunities within the industry

The same goes for Katakam, who finds the rotations particularly insightful and hopes to identify the department that best aligns with her interests by the end of the programme

On the Better Leader Programme which will help 5,500 managers build leadership skills, Wee said that even as AI reshapes the workplace, leadership remains fundamentally human

“Our leaders will help teams adapt, build new capabilities and realise the benefits of AI. They must exercise sound judgment on how technology is used, while building trust, inspiring confidence and bringing out the best in their people,” he said

Meanwhile, the enhanced Gig+U programme, which will be rolled out to UOB employees and external hires by the first quarter of 2027, will also include customer-facing and sales advisory roles

The programme allows experienced UOB employees – such as those approaching or beyond retirement age, mothers returning to the workforce, and those seeking flexible work options – to contribute their expertise through part-time, flexible or fixed-term opportunities

The bank expects to form a talent pool of 200 Gig+U participants, who will receive a monthly retainer, insurance coverage and access to assignments based on business needs, with compensation provided for work that they undertake

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Source: www.straitstimes.com