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New Klarna AI Assistant Cuts Down Consumer Errand Times by Over 80%

A new AI assistant has been launched by Klarna, the AI-powered payments network and shopping assistant, to improve customer satisfaction. Powered by OpenAI, the service has been live for a month and has since had 2.3 million conversations, equating to two-thirds of Klarna’s customer service chats.  

Available in the Klarna app, the assistant is designed to enhance the shopping and payments experience for Klarna’s 150 million consumers worldwide. It is capable of managing a range of tasks from multilingual customer service to managing refunds and returns, and fostering healthy financial habits.

Brad Lightcap, COO of OpenAI
Brad Lightcap, COO of OpenAI

“Klarna is at the very forefront among our partners in AI adoption and practical application,” said Brad Lightcap, COO of OpenAI. “Together we are unlocking the vast potential for AI to boost productivity and improve our day-to-day lives.”

Klarna is on a mission to offer a fully AI-powered financial assistant aimed at saving consumers time, worry and money. It is more accurate in its errand resolution leading to a 25 per cent drop in repeat inquiries.

The payments network and shopping assistant has revealed that it has scored the same satisfaction levels as human respondents, with customer errands being resolved in less than two minutes, compared to 11 previously. However, if customers so choose, they can still interact with a human if they wish.

Sebastian Siemiatkowski, CEO, Klarna
Sebastian Siemiatkowski, co-founder and CEO, Klarna

“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, co-founder and CEO of Klarna.

We are incredibly excited about this launch, but it also underscores the profound impact on society that AI will have. We want to reemphasise 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.”

Other services

Klarna is also offering 24/7 customer service from experts. Klarna’s AI Assistant handles a wide array of queries, including refunds, returns, payment-related issues, cancellations, disputes, and invoice inaccuracies, ensuring swift and effective solutions.

Additionally, the service can also act as a personal financial assistant. Klarna’s AI Assistant offers real-time updates on outstanding balances and upcoming payment schedules. This ensures consumers never miss a Klarna payment. It also provides a clear understanding of your purchase power, explaining your spending limits and the reasons behind them, empowering you to make informed and confident shopping choices.

The AI assistant is available in 23 markets and communicates in more than 35 languages. It is also estimated to drive a $40million profit improvement to Klarna in 2024 as it does the work of 700 full time agents.

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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