Live
- 10 Tried-and-Tested Home Remedies for Toothaches
- Thila Taila Abhishekah Pooja to Lord Shaneswara
- Sudheer Babu’s ‘Harom Hara’ set to release on this auspicious day
- Priyanka Gandhi says BJP talking of 'tinkering' with Constitution with PM’s nod
- Vishwak Sen unveils gritty avatar as ‘Lankala Rathna’ in ‘Gangs of Godavari’ teaser
- ‘Kalki 2898 AD’ locks release date; film to entertain audience from June last week
- LS polls: PM Modi says BJP-NDA leading 2-0 after first two phases
- Plea in Madras HC seeks special polling arrangement for names 'missing' from Coimbatore voter list
- Ex CM KCR Bus tour on 4 th day
- Youth National Games 2024 kick-start in Delhi; over 5,000 athletes from 15 states vying for top honours
Saving Big: Paytm's smart move with AI to spur profit surge
Fintech giant Paytm is leveraging artificial intelligence (AI) to revolutionise payments and financial services like wealth management, Paytm Founder and CEO Vijay Shekhar Sharma said in an interview with Bloomberg
New Delhi: Fintech giant Paytm is leveraging artificial intelligence (AI) to revolutionise payments and financial services like wealth management, Paytm Founder and CEO Vijay Shekhar Sharma said in an interview with Bloomberg.
Paytm’s AI-driven strategy has helped it reduce workforce while continuing to innovate for India.
“As we lead the AI revolution in India, we are embracing AI-powered automation to eliminate repetitive tasks leading to substantial cost savings. With an aim to drive efficiency across growth and costs, we are reducing our workforce by 10 per cent and continue to drive innovation in India across payments and financial services,” said a Paytm spokesperson.
Paytm believes that its strong mobile-first foundation and early AI adoption will give it a competitive edge.
The company also feels that there is a need for upskilling and reskilling to equip employees for AI-enabled roles.
“We will be able to save the targeted 10-15 per cent that we had planned on employee costs, all because AI has actually delivered more than what we expected it to,” Sharma said in his interview with Bloomberg.
Sharma also said that the company aims to hit EBITDA-level profitability sooner. It has generated free cash for the past two quarters and Sharma expects that trajectory to continue.
