Alibaba-backed Paytm rolls out AI Cloud for India

This platform offers a suite of business-centric apps for organisations that need high-quality solutions for Cloud computing, ready-to-use services to automate their workflow, easy to integrate payments, messaging and customer engagement without the hassle of managing hardware and software, Paytm parent One97 Communications Ltd said in a statement.

Paytm AI Cloud processes and stores all their consumer data locally in servers located only in India, the company said.

“At Paytm, we have always ensured the highest standards of customer data privacy and security. Our customers data is processed and stored locally in India with no access to any third party or investors,” said Sujit Kumar Mishra, VP, Paytm. Alibaba having a large stake in Paytm, which had applied for a NBFC licence, earlier raised concerns about the possible threat to national security. 

AI will be everywhere in 10 years: 

The rate at which deployment of AI tech is increasing, it will be widely available to the masses in the next 10 years, says a new Gartner report. Movements and trends like Cloud computing, the “maker” community and open source will eventually propel AI into everyone’s hands, said the report titled ‘Hype Cycle for Emerging Technologies, 2018’. The research found that Blockchain and Internet of Things (IoT) platforms will reach maturity in the next five to 10 years. Tech will continue to become more human-centric to the point where it will introduce transparency between people, businesses and things, it said.