The Swedish-based fintech company Klarna recently announced plans to lay off 10% of its global workforce. The company has implemented an AI assistant capable of handling the workload of around 700 full-time staff members.
Klarna partnered with OpenAI to improve customer service interactions, and now a ChatGPT-powered bot is managing two-thirds of customer service chats – 2.3 million conversations – in 23 markets and 35 languages. The use of AI is expected to increase Klarna’s profits by $40 million (£31m) in 2024. The bot's efficiency has resulted in fewer errors, a 25% decrease in repeat inquiries, and reduced average conversation times from 11 to 2 minutes.