Indian e-commerce and digital wallet company, Paytm has reportedly launched a new AI powered cloud computing platform, Paytm AI Cloud in collaboration with the Chinese mammoth Alibaba. As per sources, the platform has been introduced in a bid to lend support to developers, startups and enterprises in India.

Apparently, the new platform aims to offer a portfolio of business-centric apps for organizations that require high quality cloud computing solutions. According to The Economic Times, the digital payments company claims that their new AI platform would be effective in storing and processing all their consumer data in local servers spread across India, while maintaining the company’s high privacy and security standards. 

As per Sujit Kumar Mishra, VP of Paytm, the current organizations require advanced workflow automation tools to enable increased efficiency and productivity. The Paytm AI Cloud encompasses all the essential requirements on a single platform, while assuring money, time and resource savings for the organizations, he says.

Mishra adds that Paytm considers its customers’ data privacy and security as its highest priority and is focused on protecting customer data stored on local servers from any third-party organizations.

According to sources, Paytm AI cloud would be featured with business solutions that include pattern recognition technology, easy to access cloud computing services, ready to use apps, predictive computation and pretrained models.

In addition, Paytm also plans on collaborating with Alibaba powered communication platform, DingTalk in a bid to offer cross platform messaging solutions via chats, emails or audio or video conferences.  

As per an official statement, the new AI Cloud platform is equipped with an advanced marketing automation platform that offers enterprises a direct relationship with every individual customer spread across various channels. Enterprises would now be able to offer a distinguished suite of services, design individual customer lifecycle, and provide rewards that matter the most to the business.