Cognitive technologies are products of the artificial intelligence (AI) domain which execute tasks that only humans used to perform. The impact of cognitive technologies on the management of human capital (HC) has a massive effect in the banking sector. This paper studies the transformation of cognitive technology to human capital management (HCM) in the banking sector during the COVID-19 pandemic. The study draws data from 201 bank employees working in private, public, and foreign banks using a multi-stage sampling method in India. A number of hypotheses were framed and tested using multivariate and regression analyses. The results from the study indicate a significant change in the performances of bank employees statistically during the transformation of cognitive technologies. Cognitive technologies such as payment, product customisation, self-services, workload alleviation, automated back-office function, and a personalised experience significantly contribute to the HCM.