Artificial General Intelligence has potential to become part of everyday life: Paytm CEO

Paytm founder and chief government Vijay Shekhar Sharma sees Artificial General Intelligence (AGI) as being ‘ripe for innovation’ with the potential to develop into a part of our on a regular basis lives.

In his letter to the shareholders, Sharma mentioned, “I see AGI as something like smartphones 10 years back – very ripe for innovation and potent to become part of everyday life at scale. As a technology company, we at Paytm, will be at the forefront of this revolution. We are committed to building a world-class technology company from India.”

Sharma added that Paytm’s know-how groups had seen some ‘encouraging results’ within the AGI area. “I believe in 2023, with the advent of early-stage AGI, we will see more opportunities to bring efficiencies in business and AI-first offerings.”

The firm introduced its earnings on May 5 the place its consolidated quarterly losses shrank to lower than a fourth from a yr earlier, even because it posted robust income progress in its digital funds, service provider subscription, and loan-distribution companies.

Also learn | Paytm guardian One97 Communications posts $1 billion in income for FY23

AGI demand in startups

Since OpenAI launched ChatGPT — a conversational chatbot constructed on AGI — final yr, there was important progress in demand for AGI and AGI-based merchandise. Startups the world over are both integrating ChatGPT of their purposes and providers or utilizing AGI to construct their very own merchandise.

In March, news company Reuters reported that US fintech main Stripe was starting to combine OpenAI’s newest GPT-4 synthetic intelligence mannequin into its digital fee processing and different merchandise.

“There are currently 14 GPT-4 prototypes in the works at San Francisco-based Stripe,” Emily Sands, Stripe’s head of knowledge, had mentioned then.

In India, too, startups akin to MakeMyTrip are exploring their choices with AGI.

Speaking on the Times Network India Digital Fest, Makemytrip’s founder and chairman Deep Kalra mentioned, “The new model of AI that we’re all aware of — generative AI. The generative model is heady, and it can summarise the reviews we’re getting intelligently in a very easy-to-understand form to help us build content in a very interesting manner. So, we are working to build those core capabilities, and will be working with the leading players for that.”

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