UPI has played a major role in transforming India’s economy, while emerging technologies such as artificial intelligence could reshape the nature of work and create new opportunities, Kris Gopalakrishnan, Chairman of Axilor Ventures and Chair of Global Fintech Fest 2026, said on Wednesday.
Speaking at GFF 2026 in Mumbai, Gopalakrishnan said technological advancements can change existing categories of work while also opening up new areas of employment.
“UPI has, without exaggeration, transformed India’s economy,” he said.
Discussing the impact of artificial intelligence on employment, Gopalakrishnan said technology should not only be viewed through the lens of jobs being replaced.
“It is true that some of these technologies can change the categories of work. But it is equally true that it creates new categories,” he said.
He added that improvements in productivity can contribute to economic growth, creating opportunities for new businesses and jobs.
“When productivity improves, economies grow, create more opportunity, more businesses, and in turn, the next generation of jobs,” he said.
Gopalakrishnan also highlighted the importance of collaboration between regulators and industry as new technologies are developed and adopted at scale. He said the experience of UPI demonstrated the value of bringing different stakeholders together while building large-scale digital systems.
“That thoughtfulness is exactly why systems like this matter, and why the presence of regulators and industry in these conversations is so important,” he said.
GFF 2026 is being held in Mumbai from September 8 to 11, with discussions centred on emerging technologies and their impact on the financial services ecosystem.
