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Paytm Lays Off 100s Of Employees After Induction Of AI

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To ensure cost-cutting, Paytm’s parent company, One97 Communication, has terminated 100 employees across verticals, including sales and engineering, due to the firm’s implementation of Artificial Intelligence (AI) to bring automation in its process.

The financial tech giant said the induction of AI would help them save at least 10% in employee costs and will help them “deliver more than expected.”

 

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