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In a dramatic move, Bajaj Finance has terminated the jobs of approximately 1,500 people and appointed only 10 teams of AI agents to work, which cut the expenses by 30%. The firm is actively transforming its lending, customer service, and data-processing businesses through automation and artificial intelligence.

The AI bots are much more efficient at repetitive activities like credit scoring, customer queries, and document verification as well as loan processing with no signs of fatigue, based on the internal source. The transfer is part of an overall effort by Bajaj Finance to go digital and become a player in the fast-changing fintech space.

The news has sent social media buzzing, as concerns spread regarding the growing impact
of AI on job security. The company has reportedly provided severance packages and cross-training positions to impacted workers yet has left social media with a rapturous reaction from people worried about additional work terminations caused by AI.

At the moment, Bajaj Finance has not released any official statement, but industry pundits think that more companies in India could go down the same route as other firms are increasingly adopting artificial intelligence.