Paytm Lays Off 100s Of Employees After Induction Of AI To Cut Costs
NDTV
Paytm said the induction of AI will help them save at least 10 per cent in employee costs and will help them "deliver more than expected".
Paytm's parent company One97 Communication has laid off over 100 employees across verticals including sales and engineering, due to the firm's implementation of Artificial Intelligence (AI) to bring automation in its process and ensure cost-cutting.
Paytm's induction of AI in its operations meant a reduction in costs, improved efficacy of operation, and removal of repetitive tasks and roles in the fintech firms as it seeks to improve its core business of payment by increasing its manpower.
Paytm said the induction of AI will help them save at least 10 per cent in employee costs and will help them "deliver more than expected".
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