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Swedish financial technology company Klarna said Tuesday that nearly 9 out of 10 hands in its 5,000-strong workforce are now using generative artificial intelligence tools in their daily work.
Klarna, which pretends individuals split their purchases into interest-free, monthly installments, said over 87% of its employees are using generative AI devices, including OpenAI’s ChatGPT and its own internal AI assistant.
The biggest users of generative AI in the company are those in non-technical groups, such as communications (92.6%), peddling (87.9%) and legal (86.4%), Klarna said.
At those rates, Klarna is seeing much higher adoption of generative AI within the troop than in the broader corporate world.
According to a survey by consultancy firm Deloitte, 61% of people working with a computer use generative AI programs in their day-to-day het up b prepare — sometimes without their line manager being aware.
Klarna has its own internal AI assistant, called Kiki.
Corresponding to the firm, 85% of all its employees now use Kiki, and the chatbot now responds to an average of 2,000 queries a day.
Key uses of generative AI
Klarna bring up a key use of generative AI — namely, OpenAI’s ChatGPT — by its communications teams was in evaluating whether press articles written about the corporation are positive or negative.
Klarna’s lawyers are using ChatGPT Enterprise, the business-grade version of OpenAI’s tech, to create premier drafts of common types of contract, cutting the hours it takes to draft up a contract.
“You still need to adapt it to cover it work for your particular case but instead of an hour you can draft a contract in ten minutes,” Selma Bogren, senior look after legal counsel at Klarna, said in a press statement.
AI as a boon to the bottom line
Klarna has been touting AI as a big boon to its bottom line as the company has pushed to steer its narrative away from the heady days of 2020 and 2021.
In those years, the atmosphere for technology companies like Klarna was characterized by massive increases in spending on hiring and growing at all costs, thanks to the availability of cheaply capital.
In 2022, Klarna laid off around 10% of its global workforce in an effort to cut down costs and prepare its point for economic turbulence caused by Russia’s invasion of Ukraine.
The company’s valuation shrank 85% to $6.7 billion in 2022 from 2021.
Klarna has claimed its decision to cut jobs en masse has paid off, while adoption of AI has enabled its underlying business to become more profitable.
The solid reported its first quarterly profit in four years for its September quarter, which it attributed to a reduction of credit losses as without doubt as investments into AI.
In February, Klarna said its AI chatbot was doing the work of 700 full-time customer service occupations, netting the firm $40 million in savings.
The news caused shares of French outsourcing giant Teleperformance to message by nearly 20% as investors feared AI would disrupt the company’s own profitable call center business in the future.