Relax, you're still part of our valued readership! But imagine if you were among the thousands facing layoffs due to workforce automation and digital transformation. Just like Paytm, which recently let go of nearly 1000 employees from sales, operations, and engineering, replacing them with AI-driven solutions.
The layoffs because of AI is not new, it certainly is a growing trend and is most likely to continue in 2024. Paytm is doing it to transition itself into ‘a complete AI company,’ as revealed by its chief Vijay Shekhar Sharma at the FY24 Q2 earnings call in October 2023. He showcased this shift by presenting an AI-generated animation at the beginning of the event.
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