Chapter 5: Transhumanism and Workforce Augmentation in Indian Banking: Reimagining HR Human 2.0 in Indian Banking

This chapter outlines the changes in workforce dynamics in Indian commercial banks between 2020 and 2023, induced by economic restructuring, regulatory shifts, and rapid digitalization. It uses trend analysis to examine how banks have modified their people strategies in light of the COVID-19 crisis, placing a particular focus on automation, digital workflows, and hybrid work models. These are the transformations to ‘Human 2.0’, an evolution of human capabilities enhanced by AI, robotics, and data-driven decision-making, making it able and efficient to provide any kind of service.

This chapter overviews the hiring patterns, skill development initiatives, and workforce restructuring, emphasizing the growing symbiosis of AI-enabled human resources (HRs) operations and automated banking practices. Exploring these changes under the umbrella of transhumanism helps us understand how technology measures the boundaries of human ability in the Financial Sector. Additionally, the research examines the influence of workforce augmentation on employee well-being, strategic HR planning, and talent reskilling, which are essential measures for ensuring the sustainability of banking efficiency in the digital landscape. Finally, this chapter puts forth data-driven insights and trend-based recommendations for Indian banks to navigate through the workforce transformation.