Reported 4 months ago
Klarna, a fintech company, is utilizing generative AI (GenAI) to reduce marketing costs by $10 million annually. By implementing AI for tasks such as running marketing campaigns and generating images, Klarna has cut its sales and marketing budget by 11% in the first quarter, with AI accounting for 37% of the cost savings. The company is using GenAI tools like Midjourney, DALL-E, and Firefly for image generation, resulting in a $6 million reduction in image production costs. Additionally, Klarna has saved $4 million by reducing spending on external marketing suppliers. Klarna has also partnered with OpenAI to use an AI assistant for customer service equivalent to the work of 700 full-time agents.
Source: YAHOO