The country’s largest lender HDFC Bank does not see the use of artificial intelligence leading to layoffs, a top company official said.
The lender, which had 2.20 lakh employees as of September, is conducting a number of ‘lighthouse experiments’ in technologies, including generative AI, that will reap its benefits over the next 18 to 24 months, HDFC Bank Chief Executive and Managing Director Sashidhar Jagdishan said on Saturday.
“Frankly, AI in our bank at least won’t result in any layoffs. Because I see this as a huge opportunity to move people from the backend to the frontend or to the technology side,” Jagdishan told reporters in the post-earnings call, in response to a specific question on AI’s impact on jobs.
“It will just change the mix of where our people will be positioned. But it will not reduce the number of people, beyond the normal turnover that we have,” he added in the comments that come amid increased concerns about AI’s impact on jobs across industries.
Even in banking, the CEO of a major Southeast Asian powerhouse had recently noted that despite business growth, he has not added any people to the workforce for the first time in fifteen years, and pointed to a 10 percent workforce reduction due to AI in the next three years.
In the last six months, HDFC Bank has added around 5,000 employees, taking its total headcount to over 2.20 lakh at the end of September.
Jagdishan said India is a market brimming with financial services opportunities and a long road to growth, which requires many people to man the front-ends to engage with customers and also continue to innovate by adopting the best that technological advancements have to offer.
He said HDFC Bank’s investments are aimed at helping future profits, and efforts revolve around redesigning processes, reducing turnaround times and improving customer experience.
At present, the bank is “quietly” making efforts in the field of technology and will announce its work at the appropriate time.
He made it clear that the bank has put in place appropriate guardrails and is not passing any decision-making work to the AI tools.
The “game plan” is to reduce the number of people in the back and use the same people in the front, he added.
“I hope it works. These are all lighthouse experiments; we’re putting our strength and hard work into that particular thing. Some will work, some won’t. We’re pretty optimistic that this low-hanging fruit should work,” the CEO said.
Published on October 19, 2025
#HDFC #Bank #doesnt #leading #layoffs #CEO