Paytm Founder and CEO Vijay Shekhar Sharma believes that startups that do not focus on technology replacing human operations are unlikely to survive in the long run.
Startups that do not focus on human-replacing technology are destined to fail: Founder-CEO of Paytm
Sharma underlined that as the use of artificial intelligence (AI) increases, there will be a need for Paytm Excessive Staff to create and maintain the technology.
According to Sharma, “We will need to hire more people to provide technology support. Technology companies will become stronger by adopting technology.
Responding to a question regarding Paytm’s staff cuts, Sharma said the business will increase hiring to support technology and improve its skills through adoption of new technologies.
He explained that artificial intelligence (AI) will eventually replace physical or mental labor in things like writing code or driving a vehicle.
Over the next five years, startups that don’t focus on eliminating human operations will find it difficult to remain competitive or relevant.
According to Sharma, a startup’s success depends on creating technology that requires less human intervention, even though the change may have a detrimental impact on jobs.
The days of businesses being recognized based on the size of their workforce are coming to an end, with single-person businesses using AI for positions like chief financial officer and chief human resources officer.
Machines will take over systems and processes that have been managed by humans
To achieve lofty objectives such as relieving the workload of thousands of people, machines will increasingly take over systems and processes that have historically been managed by humans.
According to Sharma, “Machines will take care of the processes and systems that humans usually do. The most ambitious person in this room will sit with the ambition of relieving the workload of one lakh people. This is the power of AI you have been expecting. If you’re not building for that, you’re building mediocre stuff.”
Emphasizing the transformative potential of AI, Sharma cautioned that companies that fail to realize this promise are creating poor solutions.
He acknowledged that AI will overturn processes, economies, and companies, consolidating power among those who can afford these technologies and know how to use them.
Sharma showed a keen understanding of the difficulties ahead when he expressed concern about the substantial impact AI could have on India’s workforce.
