Across the fintech landscape in ASEAN, artificial intelligence (AI)-enabled services are recognized as a critical future skill domain. However, according to a new report by the Asian Development Bank, this skill set remains underdeveloped across the region, especially in Indonesia and Vietnam.
Released in August 2026, the report shares findings from a research comprising a literature review, a regional survey, as well as stakeholder engagement through a senior roundtable to identify fintech workforce gaps across Singapore, Indonesia, Vietnam, and the Philippines.
The research found that AI-enabled services are the least developed technical skill in ASEAN’s fintech landscape. Unsurprisingly, Singapore emerged as the most skilled country in the domain, although its proficiency remains limited. The city-state is considered “competent” in AI-enabled services, demonstrating consistent and effective performance in this area of expertise across various contexts.
Meanwhile, in the Philippines, initiatives such as the National AI Program have played a significant role in strengthening AI capabilities. This program provides practical, industry-aligned training to enhance AI skills across the public sector.
On the other hand, Indonesia and Vietnam have the lowest levels of AI skills. Their proficiency is limited to the “basic” level, with only a foundational understanding of the technology and limited practical application.
These results highlight a stark contrast between the current levels of AI competencies in the fintech workforce and the rapid pace at which the technology is being adopted in these economies. A 2025 global survey conducted by Finastra polled of more than 1,500 managers and executives from banks and financial institutions and found that 74% of institutions in Vietnam had actively deployed AI – the highest level of active AI deployment among the studied countries.
In Indonesia, new research by AWS revealed that 40% of Indonesian businesses have already adopted AI, a significant increase from 28% last year. Now, over 26 million businesses in Indonesia are using AI, with 75% reporting productivity gains, and 73% anticipating AI to boost their growth in the upcoming year.
Addressing the AI skill shortage
Governments have recognized the AI skill gap and are taking proactive steps to address it. Just this month, the Vietnamese government approved a national program for AI skill development through 2030, with a vision to 2035. The program aims to establish Vietnam as a one of the leading countries in the region in terms of AI human resources (HR) development capacity.
Under the program, at least 100,000 teachers, lecturers and education administrators will receive in-depth training on the use and application of AI by 2030. Meanwhile, around 10 million workers will receive training, further education or skills updates in basic AI use.
Furthermore, the program will provide new training, retraining and advanced upskilling for at least 50,000 people with university degrees or higher, teaching them how to apply AI in key sectors and fields. It also aims to cultivate at least 1,500 experts capable of researching, developing and mastering core technologies and leading key AI tasks.
To support these initiatives, the program will establish ten advanced and specialized AI training and research centers.
In Indonesia, the “Paham AI” (AI Literacy) program focuses on promoting AI literacy among students through preventive education, seeking to improve digital skills while encouraging safe and responsible technology use.
The Ministry of Communication and Digital Affairs is also actively working on strategic measures to bridge the AI capability gap. These efforts include the development of the National Artificial Intelligence Strategy, the National AI Roadmap, and National AI Ethics regulations.
Indonesia currently faces a significant shortage of digital talent, with an estimated gap of approximately 3 million workers. By 2030, the country is projected to require 12 million digital talents to meet its needs.
Skill gaps in ASEAN’s fintech industry
Over the last decade, fintech has shifted from a niche disruptor to a core component of financial systems. This transformation has fueled a significant competency gap, with the ABD and GFI research estimating an overall technical skills gap of 48% and a soft skills gap of 46% across the four studied economies.
Across these markets, 84% to 88% of the middle-to-senior level fintech professionals polled classified closing skills gaps as an immediate priority for the 12 to 24 months, reflecting the competitive pressure to deliver products safely, quickly, and at scale.
Respondents also reported that skills shortages are a significant growth concern, with 84% to 90% of respondents across the four markets indicating that skills gaps have a high impact on their organization’s ability to meet business objectives. Respondents also cited significant impacts on risk and compliance, innovation and development, and operational efficiency and costs.
Across major fintech verticals, digital payments currently rank as the highest priority domain, with Singapore assessed at a more “advanced” proficiency level, while the other markets fall in the “developing” level. Cybersecurity is also a top-three priority across all markets, but proficiency outside Singapore remains either at the “developing” or “basic” stage. Regtech, meanwhile, is identified as a high-priority gap in Indonesia and Vietnam, reflecting growing regulatory demands and the need for technology-enabled compliance, while Singapore boasts the most mature regulatory environment of the group.
Featured image: Edited by Fintech News Singapore, based on image by wandiealfata98 via Magnific
