# PayPal CEO Enrique Lores told investors that PayPal needs to “recommit to the fundamentals,” which included “becoming a technology company again.

*fintech · news · 2026-05-05 · TechCrunch*

## Key points

- PayPal only recently formed an 'AI transformation and simplification' team for enterprise AI adoption.
- AI adoption, combined with layoffs, is expected to save PayPal at least $1.5 billion in two to three years.
- PayPal is restructuring into three segments, including a distinct category for Venmo and consumer financial services.
- Plans include AI use beyond coding, such as customer service, operations, and risk management.

**Companies:** PayPal
**Countries:** United States

[Read the full story on TechCrunch](https://techcrunch.com/2026/05/05/paypal-says-its-becoming-a-technology-company-again-that-means-ai/)

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