Fintech Firm iCapital Expands Singapore Team Despite AI Taking Over Coding Tasks
The financial technology company iCapital has announced plans to increase its workforce in Singapore. This decision comes at a time when the company is successfully using artificial intelligence to handle a large portion of its technical operations.
Currently, AI technology is responsible for writing 75% of the firm’s computer code. This includes important tasks such as generating new code, testing software, and ensuring quality assurance. By automating these processes, the company has significantly changed how its software development team functions.
Despite the high level of automation, iCapital is not reducing its staff. Instead, the company is actively looking to hire more employees for its Singapore office. The new roles will focus on product development and other strategic areas where human expertise remains essential.
This move highlights a growing trend in Singapore’s tech sector, where companies are learning to balance advanced automation with human talent. As AI takes over repetitive technical work, businesses are shifting their focus toward hiring professionals who can manage products and drive innovation.