Paytm joins hands with AI company Groq
Paytm Partners With Groq: Paytm has taken a big step in the world of digital payments. The company has joined hands with American AI company ‘Groq’ to make its services even faster and intelligent. This partnership will have a direct impact on the digital experience offered to millions of users and merchants, which is expected to be more seamless and efficient than ever before.
Why did Paytm join hands with Groq?
Paytm will use Groq’s ‘GrokCloud’ service under this partnership. Its real strength is a special technology called ‘Language Processing Unit’ (LPU). This is a special architecture that is designed only to run Artificial Intelligence (AI) at lightning speed.
Compared to traditional GPU-based systems, this technology from Grok promises to deliver many times faster performance at a much lower cost. This integration will help Paytm scale and strengthen its AI-powered operations.
Payments will be even faster
Speaking on the occasion, Narendra Singh Yadav, Chief Business Officer, Paytm, said, “We are continuously enhancing our AI capabilities to make payments faster, more reliable and smarter.” He explained that this collaboration with Grok will strengthen their technology foundation by providing ‘real-time AI inference’ (the ability to take decisions on the spot). This is another important step towards building India’s most advanced AI-powered payments and financial services platform.
What is the technical strength of Groq?
Scott Albin, General Manager, APAC at Groq, said, “Groq is proud to support Paytm in driving real-time AI innovation on a national scale.” He stressed that his mission is to make AI useful and accessible to solve the world’s biggest problems.
Let us tell you that founded in 2016, Groq is a big name in the American AI infrastructure ecosystem and it provides services to Fortune 500 companies across the world. Paytm is already using AI in areas like risk modeling, fraud prevention and customer onboarding. With Groq’s support, the company will accelerate these initiatives, creating a strong infrastructure for the development of data-driven financial services.