29 February 2024

Klarna's AI chatbot does the work of 700 full-time humans.

Written By FinTech Alliance

Klarna's AI chatbot does the work of 700 full-time humans.

Klarna says its OpenAI-powered chatbot is doing the equivalent work of 700 full-time agents after its global launch last month.

In brief:

- The AI assistant, which Klarna says is on a par with human agents in regard to customer satisfaction scores, has had 2.3 million conversations, two-thirds of the firm's customer service chats.

- The firm says the chatbot has led to a to a 25% drop in repeat inquiries and that customers resolve their issues in less than two minutes, compared to eleven minutes previously.

- Available in 23 markets in more than 35 languages, Klarna anticipates that the bot will drive a $40 million uplift in profit.

What does this mean?

“This AI breakthrough in customer interaction means superior experiences for our customers at better prices, more interesting challenges for our employees, and better returns for our investors.” says Sebastian Siemiatkowski, co-founder and CEO of Klarna. “We are incredibly excited about this launch, but it also underscores the profound impact on society that AI will have. We want to reemphasize and encourage society and politicians to consider this carefully and believe a considerate, informed and steady stewardship will be critical to navigate through this transformation of our societies."

Read more here.

Up Next ...
29 May 2024

Meethaq Boosts Islamic Banking with Temenos Core Tech Upgrade

Meethaq, Bank Muscat's Islamic banking division, has implemented Temenos' core ...

29 May 2024

Australian Start Up, Rich Data Co, expands into US Market with M&T Bank Deal.

Australian start-up Rich Data Co (RDC) has extended its AI-powered ...

29 May 2024

RBI's 3 new initiatives hailed by Industry

FinTech Leaders praised RBI's 3 new Initiatives...

28 May 2024

CEO of UK asset management firm, Abrdn, steps down.

Abrdn have today announced that group CEO, Stephen Bird, is ...

More in A.I.

Meet Cleo, London based FinTech

14 May 2024

Using AI to close in on unicorn status In brief:Suddenly, all ...

Stratiphy leads £1mn consortium

09 May 2024

Advancing trustworthy AI solutions in financial services. In brief:- Stratiphy, an investment ...

ComplyAdvantage acquires Golden

25 April 2024

Bolstering financial crime intelligence.In brief:- ComplyAdvantage, known for its advanced ...

Tifin hires Brooke Juniper as CEO of its AI investment platform Sage

18 March 2024

Tifin hires ex-BlackRock MD Brooke Juniper as CEO of its ...

White Papers A.I.

Retail Banking: The Scope of AI Within Financial Services

12 January 2024

Just as AI and machine learning (ML) swept through the industry bringing automation and disruption,....

White Papers A.I.

Comarch on: Knowledge is power – the role of AI in building loyalty in finance

27 April 2022

What you will find in this useful free e-book:Our e-book discusses the role of artificial intelligen...

Articles A.I.

It’s time to get excited about boring AI

30 June 2021

The good news? Artificial intelligence (AI) offers ways to perform these complex, integrated tasks f...

Articles A.I.

AI for business

25 May 2021

During a corporate crisis, time is essential. Getting the integration process wrong can prove d...

There are no Events in this category