Digital payments major Paytm plans to turn artificial intelligence (AI) tools developed for its own operations into a new revenue stream within a year by selling them to merchants and other businesses, after reporting a sharp rise in June-quarter net profit on July 20.
Founder and chief executive Vijay Shekhar Sharma said some AI products had already started generating a few lakh rupees in revenue. The company is developing tools for merchant acquisition and servicing, customer engagement, collections and retention, which it plans to offer to small businesses and large enterprises.
