AI's Impact on Jobs: Paytm Founder's View

Published Date : 12/7/2025 

Paytm founder Vijay Shekhar Sharma discusses the inevitable role of AI in jobs and business processes, emphasizing the creation of new roles and the company's shift towards becoming an AI-first firm. 

The impact of artificial intelligence (AI) on jobs is an inevitable reality, according to Paytm founder Vijay Shekhar Sharma. Speaking at an AI-focused event in New Delhi, Sharma emphasized that AI will become an integral part of routine business processes sooner rather than later.

“Sooner or later we will have to start using AI as an employee or even as a CFO,” Sharma stated. He stressed that AI will eventually take over most tasks currently handled by humans, and highlighted the importance of focusing on building core products. This vision aligns with Paytm’s broader strategy to move beyond its fintech roots and transform into an AI-first company.

Despite the automation that AI will bring, Sharma believes it will also create new roles in the workforce. This perspective is particularly relevant as Paytm’s parent company, One97 Communications, is currently undergoing job cuts. According to an ET report, the company recently laid off an unspecified number of employees, leading to a significant reduction in the sales team headcount. The team size dropped by about 3,500 in the March 2024 quarter, bringing the total to 36,521. This decline is largely attributed to the Reserve Bank of India’s restrictions on Paytm Payments Bank operations.

In the March quarter, Paytm reported a consolidated net loss of Rs 540 crore, a slight improvement from the Rs 550 crore loss in the same period last year. Despite these financial challenges, Paytm remains a significant player in the UPI (Unified Payments Interface) market. As of June, Paytm held the third position in UPI rankings with 1.27 billion transactions worth Rs 1.34 lakh crore, accounting for 6.9% of total volume and 5.6% of value. PhonePe continues to lead the market with 8.55 billion transactions valued at Rs 11.99 lakh crore.

As part of its AI initiatives, Sharma announced a new passbook feature that will use Paytm’s data to generate a rap song summarizing monthly expenses. Although no launch date has been shared, Sharma assured that the feature would be made available to users soon. This innovative use of AI is designed to make financial data more engaging and accessible to users.

Paytm has also partnered with US-based AI startup Perplexity to introduce AI-powered search capabilities in its app. This move underscores the company’s commitment to integrating AI across its services, enhancing user experience, and staying competitive in the rapidly evolving tech landscape.

Sharma’s vision of an AI-first Paytm reflects a broader trend in the tech industry, where companies are increasingly leveraging AI to optimize operations, create new products, and improve customer engagement. As AI continues to evolve, its impact on jobs and business processes will undoubtedly be a topic of ongoing discussion and adaptation. 

Frequently Asked Questions (FAQS): 

Q: What is Paytm's vision regarding AI?

A: Paytm founder Vijay Shekhar Sharma envisions the company becoming an AI-first firm, integrating AI into routine business processes and creating new roles in the workforce.

Q: How is AI expected to impact jobs according to Sharma?

A: Sharma believes AI will automate many tasks currently done by humans but will also create new job opportunities in the workforce.

Q: What recent changes has Paytm undergone in terms of its workforce?

A: Paytm's parent company, One97 Communications, has undergone job cuts, reducing the sales team headcount by about 3,500 in the March 2024 quarter.

Q: What new AI feature is Paytm planning to introduce?

A: Paytm is planning to introduce a new passbook feature that will use data to generate a rap song summarizing monthly expenses.

Q: What is Paytm's current position in the UPI market?

A: As of June, Paytm is the third-largest player in the UPI market, with 1.27 billion transactions worth Rs 1.34 lakh crore. 

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