AI took away the jobs of Paytm employees, the company laid off 1000 people

After Google, now Paytm company has taken a big step and fired hundreds of its employees. Paytm has cited lack of funding, business restructuring, cost cutting and AI as the reasons for firing employees. The company has said that in view of the benefits and savings from AI, Paytm has laid off hundreds of employees.

AI will replace Paytm employees
The positions from which PAYTM’s parent company One97 Communications Ltd has laid off employees will now be replaced by AI. In such a situation, Paytm said that the inclusion of AI will help them save at least 10 percent in employee costs and will help them “deliver more than expected”.

What did Paytm say
“We are transforming our operations with AI-powered automation to increase efficiency, eliminating repetitive tasks and roles to increase efficiency in development and costs, resulting in a small reduction in our workforce in operations and marketing Will come. We will be able to save 10-15. Percentage in employee costs, because AI has delivered more than we expected. Additionally, we continuously evaluate non-performance cases throughout the year.”

Google had fired 12000 people
Earlier, Google had also laid off 12,000 of its people and this was one of the biggest layoffs of the year, whereas now Paytm has also taken this big step and has also claimed that more such layoffs will be seen in the future. .

What is AI technology?
AI means machine. When we set any program in a machine, it works like a human being. This is called AI i.e. Artificial Intelligence. Discussion on AI is going on all over the world. It is being said somewhere that AI will prove to be an alarm bell for working people. AI will change the face of the world and halve the need for workforce. And it will prove to be a game changer mainly for the IT sector.

These tools will also create job crisis
Along with this, artificial intelligence tools like ChatGPT and Bing Chat can also create crisis in jobs. In the future, due to these artificial technologies, many professions like call centres, translation jobs, automobile sector, travel agents, media, accounting services, teachers, graphic designers, software developers are under threat. This technology can replace these jobs.

Godfather of AI told about the danger
In such a situation, European and American regulators are preparing to curb this type of smart technology. The surprising thing is that George Hinton, considered the Godfather of AI, has also called AI a threat instead of a boon for humanity. He has clearly said that due to this, a large number of jobs will be lost in the society and misinformation will spread in the society.

Paytm Byju, Meesho also laid off employees
Let us tell you that before this, Google, Byju, Meesho had also laid off their employees. Byju had fired 2,500 employees. According to the information, Byju had to mortgage his house to collect the salaries of the employees.

Meanwhile, Meesho recently started its third round of layoffs, under which 15% of its employees were shown the door. All affected employees will receive one month’s additional salary after the ESOP along with the notice period, irrespective of the length of service they have had with the company.