HDFC Bank: Will AI lead to layoffs? Here’s what the country’s largest private sector lender said

HDFC Bank , the country's largest private sector lender, does not see its use of artificial intelligence ( AI ) leading to any layoffs , PTI reported. The lender had 2.20 lakh employees as of September. It is carrying out some "lighthouse experiments" in technologies, including generative AI, which will deliver its advantages in the next 18-24 months, Bank's Chief Executive and Managing Director Sashidhar Jagdishan said. "Frankly, AI is not going (to result in) any layoff whatsoever in our bank, at least. Because I see this as a massive opportunity to move people from the backend to the front end or to the technology end," PTI quoted Jagdishan. He was replying to a specific question on the impact of AI on jobs in the post-earnings call. "It's only going to change the mix of wh