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

Meta set to charge EU users for ad-free...

October 4, 2023

More than half of 16-34 year olds have...

March 20, 2023

The Magnetic Pull of Digital Innovation: Bitcoin’s Polarity

January 17, 2024

Navigating Tax Obligations for Your Business: Essential Insights

September 2, 2024

Artificial Intelligence: A Revolution on Par with the...

August 13, 2023

RMT union votes to end rail strikes until...

November 30, 2023

London gateway looks to surpass felixstowe as UK’s...

July 15, 2024

US tariffs threaten to tip UK, Europe and...

April 3, 2025

The power of a negative review

March 27, 2024

UK government accused of ‘sabotaging’ tourism as international...

April 22, 2025

    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

    • Friday Feature: Savannah Legacy Academy

      June 27, 2025
    • The Supreme Court Is Right on Reading Opt-Outs, But That’s Not Enough

      June 27, 2025
    • Barrett eviscerates Jackson, Sotomayor takes on a ‘complicit’ court in contentious final opinions

      June 27, 2025
    • Trump would strike Iran ‘without question’ if it restarts nuclear weapons program

      June 27, 2025
    • Florida man indicted for ’86’ posts allegedly threatening to kill Alina Habba

      June 27, 2025
    • Top House Republicans send stern warning to Senate GOP as Trump’s ‘big, beautiful bill’ risks delay

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,079)
    • Politics (15,835)
    • Stocks (3,174)
    • 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