DBS Group Holdings Ltd (SGX:D05) has entered into a memorandum of understanding with the Institute of Banking and Finance Singapore to upskill Singapore's financial sector workforce, according to a Monday filing to the Singapore stock exchange.

Under the pact, the two parties will focus on artificial intelligence and workforce development in Singapore's financial sector, including foundational AI training through IBF platforms.

It will also provide support for employees whose roles are being reshaped by AI by leveraging IBF's job redesign and reskilling career conversion program and DBS' upskilling experience. They will also help expand the pipeline of younger entrants into the industry.

DBS also launched a new career advisory service to provide employees with human-led career guidance, which will initially have more than 100 career advisers from within the bank.