Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Klarna’s AI chatbot does work of 700 full-time staff having 2.3 million conversations in first month

by February 28, 2024
February 28, 2024
Klarna’s AI chatbot does work of 700 full-time staff having 2.3 million conversations in first month

Klarna, the buy now, pay later fintech company, has implemented an AI-powered chatbot to manage two-thirds of its customer service inquiries, effectively performing the equivalent work of 700 full-time customer service agents.

Collaborating with OpenAI, Klarna developed this AI assistant to handle customer service chats within its app. In its first month, the chatbot engaged in 2.3 million conversations, with Klarna estimating a $40 million profit improvement this year as a result.

Sebastian Siemiatkowski, Klarna’s co-founder and CEO, expressed excitement about this AI breakthrough, emphasizing the superior experiences it offers customers, along with better returns for investors and more engaging challenges for employees. However, he also urged careful consideration of AI’s societal impact.

While customers can still opt for live agent interaction, Klarna assures that the chatbot implementation won’t lead to layoffs. Instead, the company expanded partnerships with third-party customer service providers last year.

The AI chatbot matches human agents in customer satisfaction but operates much faster, resolving typical requests in under two minutes, compared to the previous 11 minutes. It also reduces repeat inquiries by 25% and handles various queries, including refunds, returns, payments, cancellations, disputes, and invoice inaccuracies, in 35 languages across 23 countries.

Brad Lightcap, COO at OpenAI, praised Klarna’s AI adoption and application, highlighting their partnership’s potential to enhance productivity and improve daily lives through AI.

Read more:
Klarna’s AI chatbot does work of 700 full-time staff having 2.3 million conversations in first month

0
FacebookTwitterGoogle +Pinterest
previous post
European fightback over EV challenge from China with launch of iconic Renault 5
next post
Over 140,000 SMEs ‘debanked’ by high street lenders

You may also like

Community staple chip shop serves its final portion...

April 12, 2023

Gina Miller voices fear for democracy over closure...

July 30, 2023

What Are Rollover Requirements? Sports Betting Bonuses Decoded

May 14, 2025

Trump announces UK-US trade deal on VE Day...

May 8, 2025

Jeremy Hunt backs inflation battle and says UK...

March 22, 2023

Energy-intensive companies face shutting early or rationing

August 1, 2022

Securing Your Sanctuary: Essential Safety Measures for Your...

October 13, 2023

Why RTP Matters: How Return to Player Rates...

September 26, 2024

Business rates relief will give £14bn back to...

November 18, 2022

Labour to Tackle Private Equity Tax Loophole in...

June 8, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Public Corruption and Federalism

      July 18, 2025
    • House Republicans face mounting resistance as third ex-Biden WH aide pleads Fifth Amendment

      July 18, 2025
    • Trump directs AG Bondi to work on unsealing grand jury transcripts in Epstein case: ‘We are ready’

      July 18, 2025
    • Longtime Joe Biden aide appears under House subpoena after Jill’s ‘work husband’ pleads Fifth

      July 18, 2025
    • Regional powers clash after Israel targets Syrian territory in defense of vulnerable Druze civilians

      July 18, 2025
    • Who Deserves a Cure? The FDA’s New Gatekeeping Game

      July 18, 2025

    Categories

    • Business (8,524)
    • Investing (2,131)
    • Politics (16,107)
    • Stocks (3,217)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved