Paytm founder Vijay Shekhar Sharma says company will go AI-first after reported layoffs
As part of this AI-driven ambition, Paytm is piloting a quirky, yet innovative, feature, an AI-powered passbook that converts users' monthly spending patterns into a personalised rap track. While the company has not announced an official rollout date, Sharma confirmed the project is underway and will be accessible to users soon. The AI product will use transaction data to compose rhythmic summaries of users' financial activity, blending tech with creativity to make personal finance more engaging.This is not Paytm's first foray into AI-powered consumer experiences. Earlier, the company had partnered with Perplexity, an AI search startup, to integrate conversational search capabilities within the Paytm app. The move reflects a broader shift in strategy to infuse intelligent technologies into everyday user interactions.AI will take over more jobsThe tech industry is facing yet another turbulent year, with more than 1,00,000 jobs already cut across the globe in 2025. Tech giants like Intel, Meta, and Google have been steadily trimming their teams as they confront mounting economic headwinds, internal shake-ups, and a dramatic pivot towards AI-driven operations.This year's spate of tech job losses mirrors the widespread redundancies witnessed in 2023 and 2024. Only now, the pace appears to be quickening. Multiple forces are contributing to the shake-up: from persistent inflation and weakened consumer confidence to steeper interest rates and tighter corporate spending. But looming above all is the sector's aggressive transition into the age of artificial intelligence.Rather than merely downsizing to cut costs, many tech firms are undergoing a fundamental reorganisation of their talent base. As AI tools and automation become increasingly embedded in daily workflows, long-standing roles are being replaced by specialised positions in data science, machine learning, and intelligent systems. In a twist of irony, while thousands of jobs are being shed, companies are actively recruiting, but only for those who bring AI-centric skills to the table.This isn't just another wave of redundancies, it marks a seismic shift in how the industry is structured. AI is no longer an experimental add-on; it has become the core driver reshaping how businesses function, the kinds of roles they value, and the way they scale in a rapidly evolving digital landscape.- Ends
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