Paytm Bets Big On AI, Plans To Offer AI Agents To Banks And Insurers In India And UAE

New Delhi: Paytm is preparing to expand beyond its core digital payments business by selling artificial intelligence agents to banks, lenders and insurance companies in India and the UAE, according to a Bloomberg report citing people familiar with the plans.

The new offering, called Paytm Intelligence, or Pi, is designed to automate tasks ranging from sales calls and customer support to routine back-office operations.

Paytm Intelligence Targets Financial Services

Paytm's AI push comes as banks and insurers increasingly adopt automation to reduce costs and improve efficiency.

The company has reportedly spent nearly two years developing a financial-services AI model using years of transaction data and customer behaviour available within its ecosystem.

This could allow Pi AI agents to perform specialised financial tasks, including detecting potential fraud, assessing borrower creditworthiness and evaluating the authenticity of insurance claims.

Paytm is currently testing Pi with a limited group of customers and plans to expand the service to more clients.

AI Already Cutting Paytm's Costs

Paytm has already deployed AI agents within its own operations, giving it a working example to present to potential customers.

Its AI systems currently handle more than 10 million customer queries every month and have helped reduce annual customer-support costs by over $11 million, according to the report.

The company is now looking to turn those internal capabilities into a new business line.

Paytm Looks Beyond Digital Payments

The AI expansion comes as Paytm searches for new growth opportunities beyond India's highly competitive payments market.

After facing regulatory challenges that weighed heavily on its core operations, the fintech company has since stabilised its business and moved towards consistent profitability.

Paytm is also reportedly planning to hire around 4,000 people over the coming months as it strengthens its artificial intelligence capabilities and expands its merchant network.

The push into India and the UAE could give Paytm a new enterprise-focused revenue stream alongside its established payments operations.