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In this work, the microstructural evolution during the dynamic transformation of austenite to bainite was directly observed by in-situ high energy synchrotron X-ray diffraction measurements during warm uniaxial compression performed at the P07 beamline of PETRA III, DESY (Deutsches Elektronen-Synchrotron). Plastic deformation triggers the phase transformation, which is continuously stimulated by the introduction of dynamic dislocations into the austenite. This scenario accelerates the kinetics of bainite formation in comparison with conventional isothermal treatment. No mechanical stabilization of austenite was observed during dynamic transformation. Evidence of carbon partitioning between phases during plastic deformation was obtained. Further post-process investigations suggest that the bainitic microstructure developed during compression is oriented perpendicular to the loading direction. The findings open up new possibilities to design carbide-free bainitic microstructures directly via thermomechanical processing.