Fintech Innovation: Will Robots Take Jobs?

Max Levchin: Robots Cannot Replace Humans

Affirm CEO Max Levchin expressed his belief that robots will not take the jobs of humans, drawing on his experience in the finance sector. Speaking at the Yahoo Finance Invest conference, Levchin said, "I don't think this poses a threat to our workforce. Artificial intelligence and realized artificial intelligence are a set of useful tools for us to live better," he said.

A co-founder of PayPal, Levchin founded the buy now, pay later (BNPL) service Affirm in 2012. This fintech has garnered significant interest by offering users a flexible payment system without costs.

The BNPL market continues to grow. According to a Federal Reserve report, 15% of Americans will use BNPL services in 2024. Among these individuals, 58% reported that they use the service for purchases they would not normally be able to afford. In 2025, Affirm's shares increased by 25%.

Artificial intelligence remains a significant topic of discussion. Levchin believes that humanoid robots will not create the major problems that people fear. Although robots that cook eggs or do household chores are not yet a reality, he believes such developments will direct humans towards more interesting and intellectually stimulating jobs in the future.

Levchin suggests that the workforce will adapt to the loss of physical jobs. "This used to be the case. When you hammered iron, that was a real job. Now, jobs like die cutting and casting are done with machines. This has happened several times in history, and we have always built a better future," he said.

Workers have mixed feelings about artificial intelligence. A study shows that 79% of participants believe AI has an impact on their jobs.

Affirm reported solid results for the first quarter of the 2026 fiscal year. Analysts maintain a positive outlook for the company. Goldman Sachs analyst Will Nance rated the firm as 'Buy' with a target price of $94.

“We continue to remain positive on the story, and we expect the ongoing earnings growth in shares to support the valuation and enhance stock performance,” he noted.

JPMorgan's Reginald Smith also gave an 'Overweight' rating for Affirm, setting a target price of $94. “We expect Affirm's premium volume growth (>20%) and operational margins to improve. This growth will be driven by the company’s platform partners like Shopify, Amazon, Apple Pay, and the rapidly growing Direct-to-Consumer business model, Affirm Card,” he said.

Levchin also emphasized the significant role of artificial intelligence in the future of humanity. "These systems will make all of us smarter because they have doctoral-level expertise in any field. They can educate us, guide us, and help us become better decision-makers," he expressed.