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klarna says its ai assistant has effectively replaced 700 employees
The goal of Stockholm, Sweden-based Klarna’s founding in 2005 was to facilitate internet shopping. While technology has changed, excited, and revolutionized the world in the previous eighteen years, our goal to make payment as easy, safe, and most importantly, seamless as possible is still relevant today.
As the top global payments and shopping platform, Klarna offers 150 million active customers across more than 500,000 merchants in 45 countries smarter, more flexible shopping and buying experiences. With a seamless one-click shopping experience, Klarna provides direct payments, pay after delivery choices, and installment plans so that customers can pay whenever and however they choose.
When the company acquired SOFORT in 2014 the Klarna Group was formed. Klarna is backed by investors such as Sequoia Capital, Silver Lake, Bestseller Group, Dragoneer, Permira, Visa, Ant Group and Atomico.
Welcome to the dynamic world of Klarna, a prominent entity within The Klarna Group. With an impressive reach, Klarna has become a cornerstone in the global commerce landscape, connecting a staggering 150,000,000 active consumers with over 500,000 merchants.
At the heart of this digital ecosystem is a relentless flow of transactions, with Klarna facilitating a remarkable 2,000,000 transactions per day. This not only reflects the trust consumers place in the platform but also underscores the efficiency and scale at which Klarna operates.
Behind the scenes, a dedicated team of 5,000+ employees drives Klarna’s success, bringing innovation and expertise to every aspect of the organization. This workforce is the backbone of Klarna, contributing to its continuous growth and evolution in the ever-evolving world.
klarna says its ai assistant has effectively replaced 700 employees –
Klarna says its AI assistant has effectively replaced 700 employees, around a year after it announced mass layoffs.
klarna says its ai assistant has effectively replaced 700 employees.
A year after the company laid off a similar number of people, Klarna’s AI helper replaces the job of 700 full-time employees.
- Klarna revealed that the duty of 700 full-time staff members has been shifted to its AI helper.
- This announcement was made a year after Klarna faced backlash for letting go of almost 700 workers.
- According to Klarna, there is no connection between this number and the earlier layoffs.
Will AI replace you in your job? Sure, they might not do it right away, but AI is fully capable of replacing some jobs. The Swedish financial technology startup Klarna has declared the achievement of a major automation milestone.
The workload equivalent to 700 full-time employees has been essentially taken over by an AI helper, according to the revelation. This information was made public about a year after the business was criticized for terminating roughly the same amount of employees.
According to a Fast Company report, Klarna boasted in a statement on Tuesday about the effectiveness of their AI helper, saying it can complete jobs that 700 human agents could not. But this claim has raised some concerns, especially among people who remember the large-scale layoffs that happened in the middle of 2022, which accounted for about 10% of the company’s personnel.
Sebastian Siemiatkowski, the CEO of Klarna, explained the layoffs at the time by citing inflation worries, potential impending recession, and economic uncertainty. His handling of the matter, meanwhile, received criticism—most notably when he made a spreadsheet publicly available on LinkedIn that listed the names of numerous laid-off workers.
In response to a question from Fast Company regarding the process used to determine the productivity of the AI assistant in terms of humans, Klarna made it clear that this number had nothing to do with the prior layoffs.
The company’s customer service operations are reportedly supported by multiple sizable third-party organizations that employ more than 650,000 people in total. Klarna also noted that clients are still able to communicate with live operators if they so choose.
Klarna stressed in their statement that “drawing that conclusion would be incorrect and that this is in no way connected to the workforce reductions in May 2022.”
“We chose to share the figure of 700 to indicate the more long-term consequences of AI technology, where we believe it is important to be transparent in order to create an understanding in society.”
Although using chatbots and other AI technologies for customer support jobs is not new, future developments in the field are anticipated to make these systems even more flexible. The news from Klarna highlights the continuous change in how companies deal with consumer relations and sparks debate about the wider effects of automation and artificial intelligence on jobs and society at large.
klarna says its ai assistant has effectively replaced 700 employees.
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klarna says its ai assistant has effectively replaced 700 employees