Paytm Fires 1,000 Employees; AI-Powered Automation To Blame?

Mumbai: The debate on whether artificial intelligence (AI) is a blessing or curse for human beings is ongoing.

Well, there will be no doubts in the minds of around 1,000 Paytm employees who have recently been fired across departments.

The decision to lay off so many staff over the past three months by Paytm’s parent company One 97 Communications is aimed to cut costs across the firm, reported The Economic Times.

A Paytm spokesperson said that the company is aiming to transform its operations by incorporating artificial intelligence (AI) and eliminating ‘repetitive tasks and roles’.

“We are transforming our operations with AI-powered automation to drive efficiency, eliminating repetitive tasks and roles to drive efficiency across growth and costs, resulting in a slight reduction in our workforce in operations and marketing,” IndiaToday.in quoted the spokesperson as saying.