Europe’s largest fintech firm froze recruitment because its AI assistant is so good — Klarna’s AI bot does the work of 700 people and no, it’s not connected to the layoff of 700 employees in 2022

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While most people would prefer to chat with real employees when looking to solve a problem to do with a company’s products or services, chatbots are the first and often only port of call these days. They are getting ever smarter too thanks to modern AI – but this does come at a cost, however, as it means fewer human jobs in customer service.

For example, take Swedish fintech Klarna. A post on the company’s website announced proudly that its OpenAI-powered Klarna AI assistant had handled two-thirds of customer service chats in its first month. You’ll need some context for that – Klarna says that is 2.3 million conversations.