50% Fintech Jobs at Risk

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Sector 6 The Daily Newsletter of AIM ________________________________________________________ December 28, 2024 ∙ 3 min read ∙ Visit AIM Hey there! Your curious AI Human, Amit Raja Naik, is here to decode the future of fintech. (Spoiler alert: it’s looking automated). India’s fintech sector is bracing for massive disruption, with 30-50% of BFSI jobs predicted to vanish in the next few years due to AI. Routine roles like L1 support and basic programming are most at risk, as automation drives efficiency. “Next year, we are targeting a 30% reduction in the workforce. In India, we are underestimating what’s going to hit us. It will hit hard,” warned fintech expert Abhishant Pant. Companies like PhonePe, Paytm, and Dukaan have already slashed staff. PhonePe, for instance, cut 60% of its support team, achieving 90% AI-driven resolutions. Similarly, Paytm saved 10-15% in costs by eliminating repetitive roles. “AI provides you with an advantage to reduce your cost…For companies that are living under the pressure of the market and are questioned by investors, their biggest expense is people,” Pant explained. While firms like Zerodha promise job security, Pant predicts layoffs are inevitable, with churn likely to peak by 2025. The message is clear: “There is very little time for people to upskill.” And this makes adaptability crucial to surviving the AI wave. Enjoy the full story here. AGI and its uncertain future: Are we ready to regulate the next leap in intelligence? Click here for an insightful exploration of this emerging frontier. Top 50 Institutes Offering AI Courses in India 2025  Looking to dive into artificial intelligence, machine learning, or data science? This report by AIM Research unveils the top 50 on-campus AI programs in India with insights into academic rankings, standout curricula, and career paths for aspiring tech pros. With rising industry demand, AI programs are evolving fast, driven by corporate partnerships, innovative learning environments, and a focus on emerging technologies. From hands-on projects to cutting-edge research opportunities, these institutions are shaping the next generation of AI leaders. Whether you’re eyeing a certification or a full-fledged MTech, this list has it all. Ready to explore where AI could take you? Read the full report here. AI’s double-edged sword: Are we ready for its promise—and its peril? Click here for a deep dive into AI governance and cybersecurity. Cutting Costs by 80% Observability platforms like Middleware are indispensable as enterprises spend up to 30% of their infrastructure budgets on monitoring AI systems and on-prem setups. Middleware’s leaders highlight the hidden costs of open-source tools and the critical need for visibility into metrics like model accuracy and resource utilisation to optimise performance.  The company claims to tackle these by focusing on intelligent data pipelines and targeted monitoring strategies, cutting costs by up to 80%. As Middleware’s founding director, Sawaram Suthar, noted, “We are shifting from a ‘collect everything’ approach to what truly matters.” Read on.  Why composable architectures are the secret sauce for scalable AI—click here for an in-depth exploration of this game-changing approach. Saving Lives, One ICU at a Time Bengaluru-based health-tech startup Cloudphysician claims to cut ICU mortality rates by up to 47% by bridging India’s critical care gap with AI and telemedicine. “We need 8 to 10 lakh ICU beds, but it’s the skilled people and processes that make a bed truly ICU-ready,” said co-founder Dileep Raman.  Leveraging multimodal AI—including computer vision, LLMs, and in-house models—Cloudphysician provides real-time insights from video feeds, lab results, and medical records, enhancing doctor efficiency by 6-8 times. Covering 1,500 ICU beds across 200 hospitals, Raman emphasised, “AI is not making patient care decisions; it’s augmenting doctors and nurses.”  Read the full story here. Your daily dose of AI insights Eager to navigate the ever-evolving world of artificial intelligence and analytics? The key isn't just knowing what's new—it's immersing yourself in the community that's shaping tomorrow. ··· Enhance your expertise every day with the Sector 6 newsletter from AIM Media House. Explore More with AIM: Conference Calendar: Discover our upcoming events and conferences here. AIM Research: Stay ahead with the latest industry research at AIM Research. AIM TV: Watch expert interviews and discussions on our YouTube channel. Corporate AI Trainings: Elevate your team's skills with our AI training programs. AI Hackathons: Test your skills on our MachineHack platform. Best Firm Certification: Learn about our Best Firm certification. Councils: Join the conversation with industry leaders at AIM Councils. Brand Collaborations: Partner with us to amplify your brand. Advertise with us. Podcast: Tune into The Hot Seat for in-depth chats with AI pioneers on YouTube. Edited and produced by the AIM Editorial Team For Brand Collaborations, write to us at info@aimmediahouse.com © 2024 AIM Media House LLC

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