Antony Jancic
CEO Bank of America Europe DAC and Country Executive for Ireland
Driving Innovation and Skills for the Future Workforce
Technology is rapidly transforming industries across the globe, and the island of Ireland is no exception. Despite our strong economic growth and position as a tech hub, we are facing a serious and growing talent deficit, particularly in the technology sector. In today’s digital age, this skills shortage could become a critical weakness.
Growing Skills Deficit
Across industries, businesses are finding it harder than ever to fill roles that require advanced technological skills. Today, for example, banks are as much technology companies as they are financial institutions. At Bank of America, we now spend $13 billion annually on technology, with $4 billion focused on new initiatives like AI. That is a substantial investment not just in technology, but in people and in upskilling to meet the rapidly evolving needs of our clients. From cybersecurity to data science, software development to artificial intelligence, the skills we need to drive innovation and meet customer demands are increasingly tech driven.
The stark reality is that economic and employment growth will be stymied if we do not have the requisite skills to fill these roles. A Scale Ireland study determined that current supply models for Information and Communication Technology (ICT) roles will be insufficient to meet future demand as Ireland’s ICT sector will likely require close to 90,000 new positions by 2030.
To address this skills deficit, Ireland needs to take decisive action. We need to focus on scaling programmes that equip people with the right technical skills, but just as importantly, we must foster a culture of continuous learning. The education and training system must adapt, providing opportunities for upskilling and reskilling workers at every stage of their careers. This approach will not only fill immediate job vacancies but will ensure that Ireland’s workforce remains competitive in the long run.
Commitment to Economic Mobility
At Bank of America, we have made a commitment to enhancing economic mobility by supporting initiatives that create jobs and help people transition into sustainable employment.
Advancing technology skills, particularly for individuals from marginalised communities, is a key focus for us. Certain groups such as people from disadvantaged backgrounds, women and mid-career workers have been disproportionately impacted by economic change and are too often overlooked in conversations about tech careers. Through our partnerships with Generation Ireland and Belfast Metropolitan College, we provide opportunities for individuals from these communities to access tech-focused skills training, positioning them for long-term, meaningful careers.
This year, we signalled our intent by announcing plans to create up to 1,000 new roles as we expand our operations to Belfast and establish a new anti-money laundering unit to support our business globally. We have now commenced that process, with recruitment currently underway for new roles. We see this as an investment in people, creating high-skilled, future-proof careers and reinforcing our long-term commitment to developing and sustaining talent across the island of Ireland.
Securing Ireland’s Future in the Digital Age
If this island is to sustain its competitiveness in the global economy, we must ensure our workforce is equipped for the opportunities and demands of the digital age and that requires a strong talent pipeline.
We have the opportunity to seize the moment and invest in the future by building a robust skills infrastructure that supports our growing tech driven economy and ensures that workers of all backgrounds are prepared for the jobs of tomorrow.
Given the strong track record of agility in managing and leading change on both parts of this island, I am confident that in collaboration with both governments and with businesses and educators, we can not only meet this challenge but emerge as a global technology leader.
