PhonePe Replaced 600 Customer Support Executives With AI In 5 Years

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Walmart-backed fintech giant PhonePe has taken significant steps to trim its expenses and narrow losses. According to its FY24 annual report, the company reduced its customer service team, scaled back cashbacks, and leveraged AI-driven chatbots to resolve most customer queries. These cost-saving measures helped reduce its net loss by nearly 30%, from ₹2,795 crore in […]

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