Fintech firm Klarna says 90% of its employees are using generative AI daily

Klarna, a leading Swedish financial technology firm, announced on Tuesday that nearly 90% of its extensive workforce, totaling 5,000 employees, now actively incorporates generative artificial intelligence tools into their daily tasks.

The company, renowned for its innovative installment payment solutions, disclosed that over 87% of its staff utilize generative AI tools, including OpenAI’s ChatGPT and Klarna’s proprietary AI assistant, in various capacities. Notably, non-technical departments such as communications (92.6%), marketing (87.9%), and legal (86.4%) exhibit the highest adoption rates, demonstrating the broad utilization of generative AI within Klarna.

Surpassing broader corporate trends, Klarna’s adoption of generative AI significantly outpaces the industry norm. A Deloitte survey revealed that only 61% of computer users employ generative AI programs in their daily workflows, sometimes without managerial oversight.

Klarna’s internally developed AI assistant, dubbed Kiki, has also seen widespread adoption, with 85% of employees actively engaging with the chatbot. Notably, Kiki handles an average of 2,000 queries per day, showcasing its integral role in streamlining internal processes.

Generative AI tools, such as OpenAI’s ChatGPT, play pivotal roles across various departments within Klarna. For instance, the communications team utilizes ChatGPT to assess the sentiment of press articles concerning the company. Similarly, Klarna’s legal department leverages ChatGPT Enterprise to expedite contract drafting processes, significantly reducing the time required to produce contracts.

Selma Bogren, senior managing legal counsel at Klarna, emphasized the efficiency gains enabled by AI tools, noting that contract drafting, which previously consumed an hour, can now be completed in just ten minutes with AI assistance.

Klarna has strategically positioned AI as a cornerstone of its operational efficiency drive, particularly amidst efforts to enhance profitability following significant layoffs in 2022. Despite a decrease in valuation, Klarna credits AI adoption for contributing to its first quarterly profit in four years. The firm’s AI chatbot alone reportedly saved $40 million by effectively handling the workload equivalent to 700 full-time customer service jobs.

However, Klarna’s success with AI has raised concerns among investors, as evidenced by a nearly 20% decline in shares of French outsourcing giant Teleperformance. Investors fear that AI advancements may disrupt traditional call center operations, impacting profitability in the future.

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Source: cnbc.com