AI: Enormous potential with even higher risks? Klarna recently announced that they have replaced 700 full-time employees with the use of AI. It showcases the huge potential of this technology. However, we have also seen massive catastrophes from companies rolling out their AI features without fully safety testing them. For example, we saw a chatbot making false promises that took a company to court. Are you not sure about the safety of your AI system? We would love to help!
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Klarna just announced that they are replacing 700 customer service agents with AI. In just the last month, their chatbot has handled 2.3 million conversations with an average time to resolution dropping by 9 minutes. This move is expected to generate an additional profit of $40 million by 2024. What does this mean to us? As we get closer to AGI, we will see more jobs being replaced. Rather than being scared, let's start learning AI and embrace it fully. #jobloss #ai #generatieveai
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I’d love to see some qualitative data on this. Klarna reporting the AI “is more accurate in errand resolution” leaves me wondering what the benchmark for that is. The “25% drop in repeat enquiries” is obviously a good indicator the pilot is working. But what type of enquiries were they, I wonder? I doubt AI will ever fully replace humans for this type of thing. It’ll certainly help reduce repeat contacts, as Klarna has demonstrated. But the best customer service teams always go the extra mile, adding a bit of surprise & delight to what usually are problematic or grumbly initial conversations instigated by a customer. Amazon & John Lewis are still streets ahead in this area in my view. As with a lot of AI, it feels like harnessing it to improve existing systems & processes & using humans to sprinkle in nuanced responses for customer complaints could be a sensible way forward. #ai #customerservice https://lnkd.in/e4e3ePvs
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AI should supplement, empower, engage, educate, and improve your agent's work, not replace it. The primary function of any AI should be alongside the human, not instead of. There is no better person to lead this discussion than Kodif's Chyngyz Dzhumanazarov.
Last week, Klarna announced their AI Assistant which handles 2/3 of customer inquiries and is projected to generate $40 million in profit by 2024. But what about the 700 displaced agents? This development sparks crucial conversations about the future of work in the age of AI. At Kodif, we're committed to empowering workers with our AI Agent Copilot, streamlining processes, and freeing up time for more meaningful tasks. Curious to learn more about how AI can empower your workforce? Book a demo now! https://lnkd.in/dZgCkwuz 💬 Let me know what you think about Klarna's case in the comments. #AI #FutureOfWork #Klarna #Innovation
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One of the more interesting developments in the world of #AI this week was the news from Klarna. They reported yesterday that their AI-powered chatbot handles 2/3 of all customer service requests (!!) with the same C-Sat scores as their human-powered CS teams. Klarna's also saying that the chatbot is doing the work of "700 employees" and is actively contributing $40M towards profits for the year. We're very early days for developments like this -- it'll be interesting to see how companies like Klarna deliver "human levels" of satisfaction while also aiming for non-human levels of 24/7 productivity, and then of course, communicate it to the public. There's certainly some knock on effects of companies that are aiming to develop AI in a substitutionary role vs a complimentary role to their employees...but that would warrant a longer post.
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Nine-in-Ten Klarna Employees Now Use AI Daily In a remarkable stride towards enhancing productivity, up to 90% of Klarna staff now utilize generative AI daily. This surge in #AI adoption is especially prominent among non-technical groups, with the #Communications, #Marketing, and #Legal departments seeing adoption rates of 92.6%, 87.9%, and 86.4% respectively.
Nine-in-Ten Klarna Employees Now Use AI Daily
https://payrate42.com
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Swedish financial technology company Klarna said Tuesday that nearly 9 out of 10 employees in its 5,000-strong workforce are now using generative artificial intelligence tools in their daily work. Klarna, which lets individuals split their purchases into interest-free, monthly installments, said over 87% of its employees are using generative AI tools, 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%), marketing (87.9%) and legal (86.4%), Klarna said. At those rates, Klarna is seeing much higher adoption of generative AI within the company than in the broader corporate world. Read more: https://cnb.cx/4bzcgja
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🤯 Klarna's new AI Assistant does the equivalent work of 700 full-time support agents and is expected to drive a $40 million improvement in profits in 2024! 💪 Frontline is making this technology available for businesses of all sizes. 👇 Link in the comments #ai #aitools #aiassistant #aichat #artificialntelligence
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ChatGPT 🤖 TL;DR: Klarna Redefines Customer Service with OpenAI Integration 🚀 Klarna's recent integration of OpenAI has revolutionized customer service, handling the workload of 700 live agents and resolving 2.3 million queries in just a month. This move underscores the transformative potential of AI in boosting efficiency and customer satisfaction. While concerns about job displacement linger, Klarna's proactive approach signals a commitment to innovation and responsible AI adoption. As we navigate the evolving landscape of AI and ML, Klarna sets a precedent for harnessing technology to enhance the customer experience. #AI #ML #Innovation #CustomerService #Klarna #OpenAI 🌟
Replaced by AI? Klarna news may confirm workers’ worst fears
hrdive.com
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Contract Hiring-Placement for Tech Startups & Companies | Entrepreneur | Customer Success | Strategies | Marketing | Startup Advisor
Klarna: OpenAI assistant doing the job of 700 full-time agents. Swedish fintech innovator Klarna is leading the charge in AI-powered customer service with their groundbreaking new assistant! Developed in collaboration with OpenAI, this AI whiz handled a massive 2.3 million customer chats in its first four weeks, effectively replacing 700 full-time agents. But efficiency is just the tip of the iceberg! Klarna's AI boasts impressive accuracy, reducing repeat inquiries by 25% and resolving customer issues in under 2 minutes (a huge improvement from the previous 11-minute average). This translates to happier customers and a significant boost to Klarna's bottom line, with an estimated $40 million profit increase projected for this year. The future of customer service is here, and it's powered by AI. #fintech #ai #customercentric #innovation #futureofwork
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I posted a few weeks ago about the anticipated revolution in chatbot technology this year. I’ve also posted about whether stakeholders, including workers and consumers, are seeing roles replaced by AI whether they want it or not. Not every organisation will give a choice between an AI chatbot and a human, as Klarna has. Of course, customers may actually prefer the AI, but anyone who has used a chatbot will know that depends on the chatbot - which depends on the investment made. Earlier in the week MPs were pointing out that the government tax agency in the U.K. (HMRC) removed their telephone service for self assessment altogether and directed taxpayers to a chatbot instead. Public and private sectors are making changes that replace roles currently reliant on human interaction en masse and we are going to see more and more stories like this one, until it is so common that it is no longer news. Cast your mind back to last year and the strikes in Hollywood. A key reason for the strikes was the start of AI adoption that impacted creative roles. One of the reasons the Hollywood strikes were settled was that agreement was reached on use of AI by the studios. Quite aside from semantics of whether “does the work of” is the right phrase, rather than “replaces”, there are many thousands of talented, knowledgeable people working in customer service. The impact over the coming months could be sudden and on a large scale. If there are too few alternative roles, regions that have come to rely on call centres for jobs after the decline of manufacturing and closure of coal mines could well be hit hard again. If organisations get the roll out of AI wrong, it won’t take long for their reputations to be affected. Once again this calls into focus the importance for businesses of assessing and understanding AI systems that they intend to use or deploy, as well as understanding the human impact, liability and having appropriate policies and safeguards in place. https://lnkd.in/e7nUGNPb
Klarna's AI assistant does 'equivalent job of 700 employees,' CEO says
euronews.com
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https://fortune.com/europe/2024/02/28/klarna-ai-altered-hiring-chatbot-700-full-time-staff-openai/ https://www.forbes.com/sites/marisagarcia/2024/02/19/what-air-canada-lost-in-remarkable-lying-ai-chatbot-case/?sh=39e22caf696f