AI may be reshaping financial services at breathtaking speed, but Affirm CEO Max Levchin believes fears of mass job loss misunderstand the real nature of technological change. Speaking at Yahoo Finance’s Invest event, the fintech founder pushed back against growing anxiety about automation, insisting that intelligent machines are ultimately tools—powerful ones, but not substitutes for human ingenuity.

A Long View on Automation and Human Productivity

Levchin, who co-founded PayPal before building Affirm into one of the leading buy now, pay later platforms, argues that history provides a clear roadmap for how society adapts to transformative technologies. From industrial machinery to modern manufacturing, waves of automation have consistently replaced manual tasks while creating new categories of work.

“It used to be real. I would hammer a piece of metal with my hammer, and that was real work, and now we have machines that do die-cutting and casting,” he said. “That happened a couple times in history, and we’ve always done better for ourselves as a species.” The challenge, he suggested, is not resisting the arrival of robotics or AI but preparing workers to transition into higher-value roles.

Nevertheless, anxiety about job security remains elevated. A recent survey by 4 Corner Resources found that 79% of respondents say AI has already impacted their role in some way. Levchin maintains that such disruption is part of the broader cycle of technological progress—and not evidence of an impending employment crisis.

Affirm’s Momentum Amid Shifting Consumer Behavior

The broader debate over AI coincides with growing momentum in the BNPL sector, where Affirm continues to strengthen its position. According to the Federal Reserve, 15% of Americans used BNPL services in 2024, and a striking 58% relied on the model to fund purchases they otherwise could not afford.

Affirm’s performance reflects this demand shift. Shares are up 25% in 2025, building on strong fiscal first-quarter 2026 results that reaffirm the company’s trajectory. The firm’s fee-free installment structure has become increasingly attractive in an environment marked by higher interest rates and tighter household budgets.

Goldman Sachs analyst Will Nance reiterated his Buy rating with a $94 price target, citing expanding market share and improving margins. Affirm’s business model, he argued, is positioned to benefit from both consumer adoption and improved operating leverage as the company scales.

AI Strategy as a Competitive Differentiator

Affirm’s stance on AI goes beyond philosophical commentary; it’s central to the company’s operational strategy. Levchin has consistently framed AI not as a replacement for human risk assessors or customer service staff, but as an enhancement to underwriting precision, fraud detection, and personalized financial experiences. In a segment where thin margins and credit quality are critical, the ability to deploy AI effectively could determine which platforms emerge strongest over the next decade.

What to Watch Next

As AI accelerates across the financial ecosystem, companies like Affirm must demonstrate that automation enhances customer experience without triggering consumer backlash or workforce disruption. For investors, the key questions are whether AI will unlock new efficiencies in underwriting, whether BNPL adoption can maintain its momentum, and how Affirm navigates regulatory scrutiny in an expanding sector. Levchin’s optimism signals confidence in a future where humans and robots work side by side—but the coming years will reveal how effectively that vision translates into durable growth.