Paytm is getting AI! Vijay Shekhar Sharma drops cryptic teaser ahead of launch – Crypto News – Crypto News
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Paytm is getting AI! Vijay Shekhar Sharma drops cryptic teaser ahead of launch Paytm is getting AI! Vijay Shekhar Sharma drops cryptic teaser ahead of launch

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Paytm is getting AI! Vijay Shekhar Sharma drops cryptic teaser ahead of launch – Crypto News

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9 months ago

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Paytm founder Vijay Shekhar Sharma teased some new AI features coming to the payment platform on Thursday. Sharma shared a poster by Paytm where it seems like the company is planning on using generative AI in order to improve the check-in experience for its customers while traveling.

​The new features will be unveiled at an event by Paytm on November 6 at 3:30 PM.

“We got something new tomorrow! Check in here :)” Sharma wrote in a post on X.

While it remains to be seen what kind of features Paytm will unveil, travel booking platform MakeMyTrip had announced earlier in the year that it was launching an AI-powered virtual travel agent called Myra to guide users through various steps of the travel booking journey on the platform, including trip planning, booking, and even cancellations and refunds.

​The platform also later announced that it was launching an AI-powered ‘Semantic Search’ to discover hotel and homestays by simply searching on the platform via natural language, eliminating the need for using various filters or checkboxes.

​Paytm partners with Groq

​Paytm on Wednesday also announced that it has partnered with US-based company Groq to bring fast and cost-effective AI to the platform. The company says it will use GroqCloud with the company’s purpose-built LPU to achieve significantly faster, cost-efficient, and scalable AI inference compared to conventional GPU-based systems. Paytm says the partnership will help support its work in building high-performance AI models which enhance transaction processing, risk assessment, fraud detection, and customer engagement across the platform.

​The fintech platform also noted that it has been using AI across various areas like risk modeling, fraud prevention, customer onboarding, and personalization.

​Paytm had also recently showcased an AI Soundbox for small and medium businesses, allowing them to receive payments while getting an AI assistant to get information in 11 local languages. The Soundbox has been equipped with dual displays while Paytm allows users the option of either using the device using voice or through the touchscreen. It supports dynamic QR, tap, and insert card transactions.

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