In a move that illustrated the power of AI technology, Klarna announced that its new AI assistant was able to handle 2.3 million conversations, or two-thirds of the company’s customer service chats, during its first month. The resulting communications equaled the work of 700 full-time agents and provided customer satisfaction rates that were on par with that of human agents.
The AI assistant completed customer interactions in two minutes, instead of the previous average of 11 minutes, and effectively communicated in 35 languages with a 25% decrease in repeat inquiries.
Klarna customers will continue to have the option to choose and interact with live agents, but this successful launch is a move toward the company’s stated vision of a “fully AI-powered financial assistant” that can save “consumers time, worry and money, while making the global retail banking industry more efficient and consumer-focused.”
“This AI breakthrough in customer interaction means superior experiences for our customers at better prices, more interesting challenges for our employees, and better returns for our investors.” said Sebastian Siemiatkowski, Klarna Co-Founder and CEO. “We are incredibly excited about this launch, but it also underscores the profound impact on society that AI will have. We want to reemphasize and encourage society and politicians to consider this carefully and believe a considerate, informed and steady stewardship will be critical to navigate through this transformation of our societies.”
Klarna estimates the introduction of this AI assistant will provide a $40 million profit improvement in 2024.
