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Hans India
3 days ago
- Business
- Hans India
Paytm to Go ‘AI-First', Says Founder Vijay Shekhar Sharma
Paytm founder Vijay Shekhar Sharma has expressed confidence that artificial intelligence (AI) will transform not just businesses, but the very nature of work itself. Speaking at Shiprocket's Shivir: AI Commerce Edition, Sharma emphasized that AI is set to become deeply integrated into daily operations, even taking on leadership roles like Chief Financial Officer (CFO). "We must learn to use AI not just as a tool, but as a co-worker, or even an executive," Sharma said, according to a report by the Economic Times. He believes that while AI will automate many routine human tasks, it will also unlock new career paths in emerging technology fields. Sharma also revealed that Paytm is undergoing a strategic transformation to become an "AI-first" organization, embedding machine intelligence across its core operations. As part of this effort, the company is currently piloting an innovative AI-powered passbook that turns monthly spending data into personalized rap tracks — a unique blend of financial insight and creativity. Though there's no confirmed launch date yet, Sharma noted that the feature is in development and will be available to users soon. Despite the growing role of AI, Sharma clarified that recent workforce reductions at Paytm were driven largely by external regulatory factors. During the March 2024 quarter, Paytm's sales team shrank by around 3,500 employees — a consequence of restrictions imposed by the Reserve Bank of India on Paytm Payments Bank. This brought the company's total headcount down to 36,521. In its continued push into AI, Paytm had earlier partnered with Perplexity, an AI-driven search engine startup, to integrate conversational search capabilities within its app. These moves mark a larger strategy to enrich user experience with intelligent technologies. Across the tech sector, 2025 has already seen over 100,000 job cuts worldwide. Companies like Meta, Google, and Intel are reducing their workforce as they restructure around AI-led operations and grapple with economic challenges such as inflation, rising interest rates, and tighter corporate budgets. Yet, this isn't simply about cost-cutting. Businesses are fundamentally reorganizing their teams — phasing out traditional roles while hiring specialists in AI, machine learning, and data science. AI is now central to business innovation, redefining how companies operate and scale in an evolving digital ecosystem. As Sharma puts it, embracing AI is no longer optional — it's the next step for companies looking to stay competitive and forward-thinking.
India Today
4 days ago
- Business
- India Today
Paytm founder Vijay Shekhar Sharma says company will go AI-first after reported layoffs
Vijay Shekhar Sharma, founder of Paytm, has underscored the inevitability of artificial intelligence reshaping the future of work, asserting that AI will soon become a core part of daily business operations, even taking on key roles such as Chief Financial Officer (CFO). Speaking at Shiprocket's Shivir: AI Commerce Edition in the capital on Friday, Sharma said AI will not only replace routine human functions but also open up fresh job opportunities in emerging tech must learn to use AI not just as a tool, but as a co-worker, or even an executive,' Sharma remarked, according to a report published by Economic Times. He stressed that with automation likely to replace several human-driven processes, companies must refocus on innovation and core product development. Sharma envisions transforming Paytm from a fintech platform into an 'AI-first' enterprise, fully leveraging machine intelligence in its most companies are handing out pink slips to employees due to an increase in automation, Paytm's employee headcount declined due to the Reserve Bank of India's restrictions on Paytm Payments Bank, which significantly impacted the company's operations. The company saw a reduction of approximately 3,500 sales staff in the March 2024 quarter, bringing the total headcount down to 36, AI feature 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 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 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 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 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 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
