Received from: Aegis
Merged into composite C11
Conference notes the rapid integration of AI and automation in the finance sector—used in algorithmic trading, customer support, compliance, and back-office functions – with 75 per cent of firms already deploying AI and another 10 per cent planning adoption in the next three years.
Conference further acknowledges that a 2017 Opimas study estimated around 230,000 global finance sector jobs could be automated by 2025, particularly in asset management and junior analyst roles. Meanwhile, the Tony Blair Institute projects that one to three million UK private sector jobs may be displaced by AI over coming decades, with roughly 60,000–275,000 jobs lost annually at peak, predominantly in banking, finance, administrative and customer-facing roles.
Conference believes AI must not be a threat to workers. It risks economic inequality, job degradation, and weakening of collective bargaining unless managed properly.
Conference calls on the TUC General Council to:
i. lobby government for robust AI regulation in financial services, with mandatory employment impact assessments and oversight of job losses.
ii. insist on union consultation before AI implementation in workplaces.
iii. develop a just transition framework, including job security, retraining programmes, redeployment plans, and sector-specific upskilling.
iv. secure representation for unions on AI ethics and governance bodies within the finance industry.
v. equip finance-sector union reps with AI literacy and negotiating capacity.
Conference resolves to work with finance affiliates, regulators, and employers to safeguard jobs, defend workers’ rights, and ensure AI-driven change benefits all, not just shareholders.
Aegis