Fintech major Paytm is planning a major rebranding exercise around artificial intelligence as the company doubles down on AI, according to its founder and CEO Vijay Shekhar Sharma.
Speaking at the Global Fintech Fest in Mumbai on Tuesday, Sharma said that the brand name is closely linked with the fintech ecosystem, but his next big bet is on AI.
In a conversation with Yes Bank chief executive Prashant Kumar, Sharma said, “I was in the Bay area (Silicon Valley, US) recently and there is a storm brewing there, while here it is just a breeze. There are $100 billion deals happening there and we are not bothered about it.”
Sharma noted that as a country, India needs to up its game in AI and adopt it throughout the technology ecosystem, and added: “India should not give up its AI sovereignty. If you are not working in AI you are not working towards the future of India.”
Paytm has been going through a transformation, adopting AI in its internal processes to reduce costs and improve its financials. The company launched an AI-powered soundbox on Tuesday to process merchant payments.
The company clocked revenues of Rs 1,918 crore and a net profit of Rs 123 crore in the June quarter.
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Speaking at the Global Fintech Fest in Mumbai on Tuesday, Sharma said that the brand name is closely linked with the fintech ecosystem, but his next big bet is on AI.
In a conversation with Yes Bank chief executive Prashant Kumar, Sharma said, “I was in the Bay area (Silicon Valley, US) recently and there is a storm brewing there, while here it is just a breeze. There are $100 billion deals happening there and we are not bothered about it.”
Sharma noted that as a country, India needs to up its game in AI and adopt it throughout the technology ecosystem, and added: “India should not give up its AI sovereignty. If you are not working in AI you are not working towards the future of India.”
Paytm has been going through a transformation, adopting AI in its internal processes to reduce costs and improve its financials. The company launched an AI-powered soundbox on Tuesday to process merchant payments.
The company clocked revenues of Rs 1,918 crore and a net profit of Rs 123 crore in the June quarter.
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