CEO Who Bragged About Replacing Human Workers With AI Realizes He Made a Terrible Mistake

The company's net losses just doubled. Do No Klarn Swedish buy-now-pay-later company Klarna, whose CEO once bragged about its automated customer service AI bots doing the work of "700 full-time agents," is now in deep trouble. The fintech outfit is facing net losses of $99 million for the first quarter of this year, CNBC reports, which is more than double compared to the same period last year. The company had already paused its highly anticipated IPO in the US last month, which once valued it at over $15 billion. And it's all particularly noteworthy because of how CEO Sebastian Siemiatkowski previously bragged that he hadn't hired anyone in a year, following a doubling down on AI tech. During an interview with Bloomberg earlier this month, however, Siemiatkowski struck a dramatically different tone, revealing that the gambit hadn't paid off. He admitted that "there will always be a human if you want" when it comes to customer service — a sign of the times, as investors are starti ... Read full article.