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Europe's largest fintech firm froze recruitment because its AI assistant is so good — Klarna's AI bot does the work of 700 people and no, it's not connected to the layoff of 700 employees in 2022

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Europe's largest fintech firm froze recruitment because its AI assistant is so good — Klarna's AI bot does the work of 700 people and no, it's not connected to the layoff of 700 employees in 2022

Swedish fintech company Klarna has announced that its AI-powered chatbot handled two-thirds of customer service chats in its first month. The chatbot, powered by OpenAI, is said to be on par with human agents in terms of customer satisfaction score and has led to a 25% drop in repeat inquiries. Klarna claims that the AI is now doing the work of 700 full-time agents and has driven a $40 million profit improvement. However, the company emphasizes that the switch to AI is not related to previous workforce reductions and urges society to consider the consequences of AI technology carefully.

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