PayPal aims for a comeback with artificial intelligence

Despite falling stock prices and expected layoffs, PayPal remains optimistic about the future. In a report to investors, CEO Enrique Lores emphasized that PayPal must once again become a "technology company." These changes involve actively integrating artificial intelligence (AI) technologies into business processes. This is reported by Techcrunch.com reports .

According to Lores, the company plans to modernize its technology platform, transition to a "cloud-native" system, and aggressively use AI in software development processes. These steps will serve to increase developer productivity and shorten time-to-market for products.

A new group for "AI transformation and simplification" has been established within the company. This strategy, combined with organizational restructuring, is expected to save over $1.5 billion over the next two to three years. PayPal also intends to cut jobs to reduce costs.

Artificial intelligence is not limited to coding. PayPal intends to apply it in key areas such as customer service, support operations, and risk management. Lores emphasized that this is not just a technological experiment, but a fundamental redesign of the company's core business processes.