David Sandström, CMO of Klarna, says: “AI helps us become leaner, faster and more responsive to our customers’ concerns, which leads to a much better experience.
“And we’re actually doing more marketing activities while saving tens of millions of dollars a year.
“Traditionally, it would have been very expensive to respond to these occasions with bespoke images, but with AI, this is no longer an issue. Essentially, we have removed the need for stock images.”
By leveraging Generation AI, Klarna was able to generate over 1,000 original images in the first quarter of 2024 alone, highlighting the increased production benefits of Generation AI as well as cost reduction.
The speed with which Klarna was able to generate new images helped reduce its image development cycle from six weeks to seven days.
It’s not just in the area of image production that the AI generation has helped Klarna significantly reduce costs. Klarna was able to achieve an additional $4 million reduction by reducing costs from external marketing vendors for translation, production and social agencies.
Additionally, Gen AI has helped Klarna gain efficiencies outside of marketing. The fintech’s recent partnership with OpenAI for an AI assistant to be used in its customer service division, the AI took over the work equivalent of 700 full-time agents.
