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Klarna, a leading Swedish financial technology company, has made significant strides in integrating generative artificial intelligence tools into its daily operations. With nearly 9 out of 10 employees utilizing AI technology in their work, Klarna has demonstrated a strong commitment to innovation and efficiency in the rapidly evolving fintech landscape.

Klarna’s implementation of generative AI tools, such as OpenAI’s ChatGPT and its own internal AI assistant, has been embraced by a majority of its workforce. Surprisingly, non-technical departments like communications, marketing, and legal have emerged as the biggest users of generative AI within the company, showcasing the versatility and widespread applicability of AI technology across various functions.

Klarna’s proprietary AI assistant, Kiki, has become an indispensable tool for employees, with 85% of staff utilizing the chatbot to streamline their daily tasks. Kiki’s ability to respond to an average of 2,000 queries per day has significantly enhanced productivity within the organization, allowing employees to focus on more strategic initiatives.

One of the key applications of generative AI at Klarna is in the evaluation of press articles to determine the sentiment around the company. By leveraging OpenAI’s ChatGPT, Klarna’s communications teams can quickly assess whether articles are positive or negative, enabling proactive reputation management strategies. Additionally, Klarna’s legal department has integrated ChatGPT Enterprise to accelerate the contract drafting process, reducing the time required to create common types of agreements from hours to minutes.

As Klarna navigates a changing economic landscape and seeks to improve its financial performance, the adoption of AI technology has played a crucial role in driving profitability. By reducing credit losses and making strategic investments in AI, Klarna was able to achieve its first quarterly profit in four years, signaling a successful transformation of its underlying business operations. Furthermore, Klarna’s AI chatbot has been instrumental in automating customer service tasks, resulting in significant cost savings for the company.

Klarna’s embrace of generative AI technology has positioned the company as a trailblazer in the financial technology industry. By empowering its employees with cutting-edge AI tools and leveraging the power of machine learning, Klarna has been able to enhance operational efficiency, drive profitability, and adapt to the changing dynamics of the market. As Klarna continues to evolve and innovate, its strategic investment in AI is likely to pave the way for sustained growth and success in the years to come.

Finance

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