Paytm turns to AI for growth and cost management objectives: Read company’s statement


Artificial intelligence (AI) steadily permeates our daily lives with its use cases in various sectors such as healthcare and customer service. Paytm is also jumping on the AI bandwagon by incorporating the technology to enhance its operational efficiency as it aims to position itself alongside major global tech giants.

The fintech company is integrating AI into its operations to streamline processes and improve performance across the board.

“We are leveraging AI to improve our efficiency, much like other leading tech companies,” news agency ANI quoted a Paytm spokesperson as saying.

“This involves transforming our operations with AI-powered automation to drive efficiency. Adapting specific roles and tasks is essential to align with our growth and cost management objectives more effectively,” the spokesperson further added.

Job cuts at Paytm Payments Bank
A shift to prioritise AI-led operations have reportedly forced several tech giants to layoff employees. Earlier this week, a report suggested that Paytm Payments Bank is set to reduce its workforce by about 20% as it faces uncertainties around its future operations.

According to a report by news agency Reuters, Paytm Payments Bank initiated staff layoffs across various divisions, including operations. Paytm owns 49% of the bank.

An employee from the unit told the publication that due to the timing of the regulatory order during the appraisal season, those with low ratings are being let go.


On these job cuts reports, a spokesperson said that in addition to its focus on AI, Paytm is currently conducting its annual appraisal cycle.

“We are in the midst of our annual appraisal cycle, a common practice across companies, where performance assessments may lead to some performance or role fit-related changes,” the spokesperson continued.

“This process is distinct from layoffs and is a regular aspect of performance evaluations in any organisation. The information based on external sources mentioned in your queries does not accurately reflect our operations. Above all, ensuring the well-being and support of our employees is our top priority,” the spokesperson noted.


Source link

One thought on “Paytm turns to AI for growth and cost management objectives: Read company’s statement

  1. In the vast expanse of the digital realm, where every click leads to a new adventure, there exists a hidden treasure trove – your Instagram account. But what happens when the fortress is breached, and your precious account falls into the hands of nefarious hackers? Fear not, for amidst the chaos, there are resources to aid you in reclaiming what is rightfully yours.

    The Antiban Pro Guidebook: Imagine a dusty tome filled with ancient wisdom, each page a treasure map guiding you through the perilous journey of account recovery. This is the Antiban Pro Guidebook, a repository of knowledge and guidance crafted by seasoned adventurers who have braved the digital wilderness.

    The Oracle of Instagram Support: Deep within the depths of the Instagram citadel lies the Oracle of Instagram Support. Approach with reverence and seek guidance from the wise sages who dwell within. They hold the keys to unlocking the secrets of account recovery and restoring balance to the digital realm.

    The Fellowship of Digital Guardians: In times of crisis, it’s essential to seek companionship on your quest. Join forces with the Fellowship of Digital Guardians – a community of like-minded individuals united in their quest to reclaim their hacked Instagram accounts. Together, you’ll share knowledge, offer support, and emerge victorious against the forces of darkness.

    With these resources at your disposal, you’re ready to embark on your journey to reclaim your hacked Instagram account. Arm yourself with knowledge, seek guidance from the wise, and rally your fellow adventurers to your side. The digital realm awaits – reclaim your place within it. – access to instagram

Leave a Reply

Your email address will not be published. Required fields are marked *