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PhonePe collaborates with OpenAI to roll out ChatGPT features for Indian users

PhonePe has announced a collaboration with Sam Altman-led AI company OpenAI, allowing users to explore ChatGPT’s features directly within its fintech platform.The partnership aims to familiarise users with advanced AI, speeding up ChatGPT’s adoption in India while driving growth for both companies. PhonePe said that this would also improve the experience on its platform by offering smarter, more relevant assistance for everyday tasks such as travel planning and shopping.The collaboration will make ChatGPT accessible across the main PhonePe app, PhonePe for Business, and the Indus Appstore. “As the adoption of generative AI increases in the country, this collaboration will help open up potential use cases for users,” the company said in a press release.Commenting on the tieup, Oliver Jay, head of International strategy and operations at OpenAI, said, “Our collaboration with PhonePe is a significant milestone in our mission to make AI more accessible to people throughout India. This partnership will demonstrate the immense value of consumer AI across India.”Also Read: NPCI, Razorpay join OpenAI to pilot agentic payments on ChatGPTRahul Chari, cofounder and chief technology officer at PhonePe, added, “We have spent years building the foundational layers for digital services at population scale. This strategic alliance demonstrates that collaborations … in this space can help expand the reach of cutting-edge technology to the broader population.”The announcement comes as PhonePe prepares for an IPO, having filed its draft red herring prospectus (DRHP) confidentially with market regulator Securities and Exchange Board of India (Sebi) in September. The Walmart-backed fintech major is reportedly targeting a $1.5 billion IPO, valuing it at around $15 billion, according to people familiar with the matter.PhonePe reduced its net loss in FY25 to Rs 1,727 crore from Rs 1,996 crore in FY24, while operating revenue jumped 40% to Rs 7,114.8 crore from Rs 5,064 crore the previous year.

Technology

Sam Altman says OpenAI not seeking government guarantees for data centres

OpenAI chief executive Sam Altman has clarified that the company is not seeking government loan guarantees for its data centres, countering speculation that it wanted US taxpayer backing for its infrastructure plans.In a detailed note on Thursday, shared on microblogging platform X, Altman said OpenAI believes governments should not pick winners or losers and that taxpayers should not bail out companies that make bad business decisions.Our CFO (Sarah Friar) talked about government financing yesterday, and then later clarified her point, underscoring that she could have phrased things more clearly, Altman said.As mentioned above, we think that the US government should have a national strategy for its own AI infrastructure, he added.Altman added that while OpenAI does not want government guarantees for its own projects, it would make sense for governments to build and own their own AI infrastructure. In such cases, he said, the benefits should accrue to the public sector, not to private firms.The OpenAI CEO said the only context in which the company had discussed loan guarantees was related to semiconductor manufacturing in the United States, where it has responded to the government’s call to strengthen domestic chip production. “The idea has been to ensure that the sourcing of the chip supply chain is as American as possible to bring jobs and industrialization back to the US,” Altman wrote.Addressing concerns about how OpenAI plans to fund its expansion, Altman said the company expects to end 2025 with more than 20 billion dollars in annualized revenue and aims to reach hundreds of billions by 2030. He said OpenAI is looking at commitments of about 1.4 trillion dollars over the next eight years to build computing infrastructure, adding that this would require continued revenue growth and possible fundraising through equity or debt.Altman said OpenAI is prepared to take risks as it scales up its infrastructure. “If we screw up and cannot fix it, we should fail. That is how capitalism works,” he said. “We plan to be a successful company, but if we get it wrong, that is on us.”He added that OpenAI is investing heavily to meet rising demand for AI applications and future breakthroughs in areas such as scientific research, consumer devices and robotics. “We believe the risk of not having enough computing power is greater than the risk of having too much,” Altman said.Also Read: After criticism, OpenAI retracts government guarantee idea

Technology

Headroom for AI-led productivity boost high in India: MeitY Secretary

The headroom for raising productivity through the use of artificial intelligence (AI) is much higher in India than in other nations, S Krishnan, secretary at the electronics and information technology ministry, said on Thursday.Speaking at an event organised by global tech industry group Business Software Alliance (BSA), he said AI's disruption to jobs in India would also be lower since white collar jobs make up a limited proportion of the total employment."In terms of use for productive purposes, India is one of the leading adopters of AI. 70% of the world apparently uses many AI tools more for entertainment. In India, that proportion is significantly lower, and it's used more for business purposes, more for enterprise purposes," Krishnan said.BSA, which counts Adobe, Cisco, IBM, Microsoft, Oracle, Salesforce and Zoom as members, on Thursday unveiled an India agenda for adoption of enterprise AI. The agenda calls for removing current restrictions on cross-border data transfers, and allowing access to non-sensitive high-value government datasets.