Klarna's AI Chatbot Handles 2/3 of Customer Service, Freezes Hiring as it Does Work of 700
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Klarna's new AI-powered chatbot is handling 2/3rds of customer service inquiries, doing the work of 700 employees. This has led Klarna to freeze hiring for most roles.
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The chatbot was created in partnership with OpenAI and is leading to faster response times, fewer repeat inquiries, and projected $40M profit improvement for Klarna this year.
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Klarna CEO calls the AI breakthrough "superior service at better prices" and credits it with enabling growth without expanding headcount.
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After steep losses in recent years, Klarna reduced losses by 76% in 2022 on 22% revenue growth. It's now reportedly planning a $20B IPO in 2024.
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Klarna became OpenAI's "favorite guinea pig" in testing AI applications after its CEO doubled down on AI following an inspiring chat with Sam Altman.