AI Disruption, the reason behind Paytm lay off?
AI Disruption, the reason behind Paytm lay off?
Paytm has laid off over 1000 employees from its operations, sales and engineering team after the firm implemented a slew of AI technology to improve efficiency.
It is pertinent to mention that Paytm CEO, last week said, that Paytm is aiming to generate an operating profit in under a year by bolstering its online wealth management services and onboarding more merchants on its network, coupled with cost savings from AI automation.
Paytm CEO Vijay Shekhar Sharma also said, the fintech firm would undergo major AI upgrades in 2024.
In a new study by McKinsey Global Institute titled “Generative AI and the Future of Work in America” has also highlighted the potential impact of Artificial Intelligence (AI) on the job market in the US.
According to the report, AI and changing consumer habits will result in a significant shift in employment opportunities across various industries, which will be forcing workers to find new jobs.
The consensus among many experts is that a number of professions will be totally automated in the next five to 10 years. Below are a few roles that are at risk of being taken over by AI in the near future.
The ongoing Artificial Intelligence (AI) revolution is feared to pose a significant threat to human jobs in the near future.
Amidst all the debates surrounding AI being more efficient than human workers and potentially replacing them, a new report indicates that several jobs are at high risk of being replaced by AI technology.
According to the World Economic Forum’s “The Future of Jobs Report 2020,” AI is expected to replace 85 million jobs worldwide by 2025.
Though that sounds scary, the report goes on to say that it will also create 97 million new jobs in that same timeframe.
