‘With tech-powered through AI, we are able to do work much more efficiently with less number of people’: Paytm

MUMBAI: Paytm is betting on artificial intelligence (AI) and adding to its tech capabilities to build a leaner workforce and check employee costs, company executives said at its Q3 earnings call with analysts on Saturday.

“…We are trying to add the capabilities of machines and systems…the systems and capabilities will continue to grow on our platform which will necessarily create not so much of demand in a linear way of the number of people that we need,” founder & CEO Vijay Shekhar Sharma said.

Paytm have slashed several hundred jobs across marketing and operations functions last year amid tech firms’ growing reliance on AI to build more efficient work systems and eliminate redundancies. Paytm had then said that it will be able to save 10%-15% in employee costs as AI has delivered more than the firm expected it to.