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What is the story about?
Shares of One 97 Communications Ltd., the parent company of Paytm, gained 5% on Wednesday, September 9, on news of the company looking at jumping on the agentic AI bandwagon to fasten a rebound in revenue growth.
According to a Bloomberg report, citing sources, that Paytm is expanding to the new business and will start selling AI agents to enterprise customers, betting on increasing demand for such bots which can automatically handle various tasks and workload with minimal supervision.
The Bloomberg report cited sources and stated that the new Paytm Intelligence, or Pi, service could deploy AI agents across sales, customer service and operations. It would initially target banks, insurers, small lenders and other financial institutional in India and the UAE, sources told Bloomberg.
Pi, at its core, is a financial services AI model which Paytm has been developing for around two years, the report stated. The model is built on massive numerical data collected over the years of processing financial transactions as well as analyzing customer behaviour. It is capable of predicting fraud, credibility of a claim and credit-worthiness, sources told Bloomberg.
They added that Pi is the first big business pivot for Paytm which brings together payments intelligence, voice technologies, behavioural models and workflow automation. Its AI agents can access customer needs, help win over new customers, run business campaigns as well as cross-sell to existing clients, the sources told Bloomberg.
CNBC-TV18 has not independently verified the Bloomberg report.
Shares of Paytm are trading 4.2% higher on Wednesday at ₹1,739.7. The stock has now gained 10% in the last one month and has extended its year-to-date advance to 35%. The stock made an intraday 52-week high of ₹1,753 today.
Also Read:L&T Energy Hydrocarbon Offshore wins 'large' order worth up to ₹5,000 crore from ONGC
According to a Bloomberg report, citing sources, that Paytm is expanding to the new business and will start selling AI agents to enterprise customers, betting on increasing demand for such bots which can automatically handle various tasks and workload with minimal supervision.
The Bloomberg report cited sources and stated that the new Paytm Intelligence, or Pi, service could deploy AI agents across sales, customer service and operations. It would initially target banks, insurers, small lenders and other financial institutional in India and the UAE, sources told Bloomberg.
Pi, at its core, is a financial services AI model which Paytm has been developing for around two years, the report stated. The model is built on massive numerical data collected over the years of processing financial transactions as well as analyzing customer behaviour. It is capable of predicting fraud, credibility of a claim and credit-worthiness, sources told Bloomberg.
They added that Pi is the first big business pivot for Paytm which brings together payments intelligence, voice technologies, behavioural models and workflow automation. Its AI agents can access customer needs, help win over new customers, run business campaigns as well as cross-sell to existing clients, the sources told Bloomberg.
CNBC-TV18 has not independently verified the Bloomberg report.
Shares of Paytm are trading 4.2% higher on Wednesday at ₹1,739.7. The stock has now gained 10% in the last one month and has extended its year-to-date advance to 35%. The stock made an intraday 52-week high of ₹1,753 today.
Also Read:L&T Energy Hydrocarbon Offshore wins 'large' order worth up to ₹5,000 crore from ONGC
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