Klarna implements AI assistant to deal with customer enquiries and saves millions

Klarna is a Swedish fintech company that allows customers to purchase goods online and spread out payments — it’s being used by some of the biggest brands in the world including Expedia, Macy’s and Nike.

Klarna recently implemented an AI assistant powered by Open AI and the stats are mind blowing:

- The AI assistant has had 2.3 million conversations, two-thirds of Klarna’s customer service chats
- It is doing the equivalent work of 700 full-time agents.
- It is on par with human agents in regard to customer satisfaction score.
- It is more accurate in enquiry resolution, leading to a 25% drop in repeat inquiries.
- Customers now resolve their enquiries in less than 2 mins compared to 11 mins previously.
- It’s available in 23 markets, 24/7, and communicates in more than 35 languages.
- It’s estimated to drive a $40 million USD in profit improvement to Klarna in 2024.

This is one of the most notable enterprise implementations of AI which is not only saving costs but improving the user experience.

I wonder what Klarna will do with this innovation — do they sell it to other companies or open source the codebase? One thing is for certain, call centres won’t be the same again.

#Klarna #AI #CustomerExperience #Innovation #OpenAI #Fintech