Adaptable and tech-curious workforce key to BFSI's next phase transformation: Gaurav Terdal, SMFG India Credit
Artificial Intelligence (AI) is swiftly redefining the landscape of entry to mid-level jobs, particularly within India's robust Banking, Financial Services, and Insurance (BFSI) sector. While its impact on jobs is a matter of discussion, what is certain is that AI is catalysing a fundamental reshaping of roles, demanding a new breed of professionals who are both digitally fluent and business-savvy. Traditional transactional and rule-based tasks are increasingly being automated or augmented by AI.
"AI isn't shrinking the workforce; instead, it's fueling the rise of new hybrid roles across core financial functions. These emerging positions require individuals who possess a strong understanding of financial products and regulatory frameworks, combined with the ability to work confidently with data, interpret AI-generated insights, and operate digital platforms," said Gaurav Terdal, Chief Human Resources Officer at SMFG India Credit.
According to Terdal, the key challenge for organisations is not merely to hire "AI-ready" talent but to nurture and continuously adapt their existing workforce as technology evolves. "Building a workforce that is adaptable, tech-curious, and continuously learning will be core to thriving in the next phase of BFSI transformation."
SMFG India Credit claims that the company is proactively investing in capability building. The organisation is strengthening its internal learning ecosystem through curated programs focused on digital literacy, data analytics, and AI fundamentals—customised to different business roles.
The BFSI sector's embrace of AI marks a significant shift in workforce demands. The future of entry-level jobs lies in adaptation and upskilling, transforming roles into more analytical, technology-driven, and human-centric functions. Companies like SMFG India Credit are leading this charge by investing in their people, ensuring they are not just "job-ready" but "future-ready" for the opportunities AI is creating.
In the last five years, technology has reshaped the BFSI talent landscape, giving rise to entirely new roles that didn't exist earlier. SMFG India Credit, according to Terdal, is witnessing an increased demand for hybrid profiles combining traditional financial expertise with skills in data analysis, automation, and customer experience design. "These emerging positions reflect a larger shift toward agile, tech-integrated models—where employees are expected to be both digitally fluent and business-savvy," informed the CHRO.
The Indian BFSI sector has made significant strides in adopting AI—particularly in areas such as credit underwriting, fraud detection, customer service, and risk management. Many large players have transitioned beyond pilots to real-world deployment, leveraging AI to unlock efficiencies and reach previously underserved customer segments. However, the journey is still ongoing, with most institutions tapping into a fraction of AI's full potential.
"At SMFG India Credit, we are actively exploring how AI can accelerate value creation across our business. For example, AI-driven credit assessments could help faster data-driven decisions, enabling greater customer experience. We're also evaluating the use of AI in early fraud detection, predictive collection strategies, and customer lifecycle analytics - tools that can significantly sharpen decision-making and reduce operational risk," explains Terdal.
Moving forward, the company's focus will be on integrating AI in a responsible, inclusive, and regulatory-compliant manner while also equipping the teams with the skills to utilise these tools effectively.
Discussing the challenges faced by talent leaders in these uncertain times, Terdal emphasises that balancing agility and stability is of utmost importance. "Employees are looking for clarity, growth, and purpose while organisations are navigating market volatility, evolving business models, and cost pressures. Against this backdrop, sustaining engagement, especially of high-performing talent, requires a thoughtful blend of empathy and performance focus."
Balancing growth with empathy starts by creating a culture of trust and support, he explains further. Terdal believes it is not just about structured programs; it is about building a workplace where open conversations, timely feedback, and day-to-day coaching are embedded into the way we lead and manage. Informal mentoring, peer support, and emotionally intelligent leadership become powerful enablers in this environment.
Purpose, leadership access, and meaningful work are becoming more critical than perks. Creating a culture that celebrates contribution, encourages innovation, and supports people through personal and professional transitions is key to long-term stickiness. Terdal was quick to add that emotional intelligence has never been more critical. "HR leaders must equip managers not only with technical skills but with the ability to connect, understand, and respond to people as individuals. This human-first leadership approach is what ultimately makes the difference, especially when the environment outside remains unpredictable."