"Those In Denial Will Be Left Behind": CRED CEO Kunal Shah On Adopting AI

CRED CEO and Freecharge co-founder Kunal Shah has a warning for those denying the significance of Artificial Intelligence (AI) and its rapid growth in almost every sector.

Every expert has to become AI native to remain relevant, Mr Shah said, adding, "Irrespective of their domain."

"Those who stay in denial will be left behind," he added.

Every expert has to become AI native to remain relevant, irrespective of their domain.

Those who stay in denial will be left behind.

— Kunal Shah (@kunalb11) March 7, 2025

Mr Shah's emphasis on the significance of adopting AI sparked a discussion online.

Many shared a similar viewpoint and underlined the need for AI adoption.

A person said, "Absolutely. Look at domains like healthcare or design-startups combining AI are redefining standards. Staying ahead means embracing the shift, not resisting it."

Absolutely. Look at domains like healthcare or design—startups combining AI are redefining standards. Staying ahead means embracing the shift, not resisting it.

— Rushabh Shah (@Rushabh_Shah777) March 7, 2025

Another added, "Mastery without AI is like driving without GPS-possible, but unnecessarily slow and inefficient."

Mastery without AI is like driving without GPS—possible, but unnecessarily slow and inefficient.

— efiletax (@efile_tax) March 7, 2025

"Absolutely, Adapting to AI is essential today," read another comment.

Absolutely, Adapting to AI is essential today

— ICP Hub India - Crewsphere (@icphub_IN) March 7, 2025

There were some who disagreed and pointed out that AI was expensive and it would kill "our identity". One said, "I agree but every good tool is at least a 30-40 dollar subscription and it's all fragmented."

I agree but every good tool is at least a 30-40 dollar subscription and it's all fragmented.

— Bhavik (@bhavikagrwl) March 7, 2025

"But if all use AI, then what would be the difference- that humans create? AI is indispensable but where are we headed- erasing our identity?" questioned another.

But if all use AI, then what would be the difference- that humans create.

AI is indispensable but where are we headed- erasing our identity?

— B S Gupta (@B_S_Gupta) March 7, 2025

This comes after the CRED founder spoke of AI's impact on his fintech firm. While the business has expanded significantly, its "headcount has remained flat for the last 2.5-3 years," he said at Mumbai Tech Week recently.

CRED's workforce is estimated at around 2,000, per LinkedIn data. In FY24, the company's revenue reached nearly Rs 2,500 crore, with operational losses reducing by 41 per cent to Rs 609 crore from Rs 1,024 crore the previous year. This is a sharp rise from FY21, when revenue was under Rs 100 crore.

Mr Shah also said that AI has significantly lowered coding costs and will continue to do so. He, however, warned that rapid software development could lead to overcrowding in the market. Going forward, CRED plans to hire more "high-judgment people" who can make key decisions rather than those who simply execute tasks -- since AI can now handle much of the latter.

AI has been progressively changing industries, automating procedures, and impacting choices in several fields.

Mr Shah's suggestion came after several reports and surveys have suggested that AI would eventually take a toll on the job market. About 300 million full-time jobs are said to be vulnerable due to AI-driven automation, according to Goldman Sachs.

Not just that, Generative AI could automate up to 30 per cent of current work hours across Europe and the United States by 2030, according to McKinsey.

India's economic survey 2025 indicated that AI presented both "unprecedented opportunities" and "significant challenges." Compared to wealthy countries, India was more vulnerable to job displacement due to its large workforce and poor salaries, it said, adding that the corporate sector has to be more sensitive and responsible with its use.