Even without AI, Indian banks are doing a lot more with fewer people

Indian banks are achieving more with fewer employees, leveraging technology and AI to drive growth and efficiency. Despite trimming their workforce, major banks like ICICI, HDFC, and State Bank of India have expanded customer-facing services and opened new branches. According to Probir Roy Chowdhury, Partner at JSA Advocates and Solicitors, “Compliance, customer experience, and competitive edge are all now linked to how well your tech works.” The banking sector is projected to spend $14.5 billion on IT in 2025, with a focus on cybersecurity, customer engagement, and regulatory-driven resilience. While AI adoption is still in its early stages, banks are experimenting with generative AI in customer service and internal operations, and investments are expected to increase in areas like AI-powered customer onboarding and fraud detection. Read Article