Klarna Employs Generative AI Across Company, Sees Significant Impact

Klarna, a global payments network and shopping assistant, has reported a significant increase in the use of generative artificial intelligence among its employees. According to a recent press release, over 87% of Klarna employees are now utilizing AI in their daily work, with the company’s internal AI assistant, Kiki, answering 2,000 employee questions per day.

Kiki has responded to more than 250,000 inquiries since its launch in June, showcasing the efficiency and effectiveness of AI in streamlining internal processes. Klarna CEO and Co-founder Sebastian Siemiatkowski emphasized the importance of testing and exploring new applications for AI technology to drive the business to new heights.

In various departments within Klarna, generative AI is being used to enhance productivity and efficiency. For example, in the communications team, AI is used to determine the sentiment of articles written about Klarna, while in the legal team, AI generates the first draft of common types of contracts, reducing the time it takes to produce a contract significantly.

The adoption of generative AI is expected to yield a $40 million improvement in Klarna’s profits this year, according to OpenAI, the provider of the large language models used to develop Kiki. Additionally, Klarna’s chatbot now handles two-thirds of the company’s customer service chats, leading to quicker issue resolution for consumers and a reduction in labor costs.

Generative AI is proving to have labor- and cost-saving applications in various fields, and Klarna’s success with AI technology highlights the potential for businesses to leverage AI to enhance employee performance and customer experience. Subscribe to the daily AI and Retail Newsletters for more updates on AI in the retail industry.