Hardik Shah says AI will transform Indian banking and cybersecurity

Business Aug 12, 2026

AI is about to shake up Indian banking over the next decade, says Hardik Shah from BCG.

He believes AI can make banking faster and more accessible, especially for small businesses and farmers.

But with smarter tech comes bigger risks. Shah points out that cyberattacks are getting much cheaper and quicker, so banks need to rethink how they protect themselves.

Shah urges joint cybersecurity, 'AI sandbox'

Shah urges banks, regulators, and the government to work together on cybersecurity since no bank can handle these threats alone.

He suggests building shared security systems and creating an "AI sandbox," a safe space for testing new tech in controlled environments.

For AI to really help banks (and their customers), he says we need clear rules so innovation stays responsible and secure.