Swedish fintech Klarna has deployed an AI chatbot, developed using OpenAI technology, to manage customer service.

The AI has efficiently processed 2.3 million chats in 35 different languages, equating to the workload of approximately 700 human agents.

CEO Sebastian Siemiatkowski projects a $40 million boost to profits this year due to the chatbot, envisioning it as the foundation for a fully AI-driven financial assistant.

Despite the chatbot's implementation, some customers remain doubtful of its capability to entirely replace the nuanced support provided by humans.

Klarna has clarified that the introduction of the AI chatbot is not related to the previous layoff of 700 employees in 2022.

Amidst these technological advancements, Klarna is contemplating an IPO in the U.S. market, aiming for a valuation near $20 billion.