📣 Hong Kong Monetary Authority (HKMA) is urging banks to prepare for AI's impact on the banking industry. Deputy Chief, Arthur Yuen, highlighted successful cases where banks re-skilled 2% of their staff for new roles. Yuen suggests that banks should proactively plan for manpower development to coexist with AI. The HKMA has updated its Supervisory Policy Manual to encourage banks to set clear future directions for manpower development. The central bank will also study AI's impact on banking jobs to provide industry reference. Yuen remains optimistic that the banking sector can maximize tech benefits while minimizing labor market impacts. 🏦💼🤖