Klarna reduced operating expenses by 11% in the first quarter compared to a year ago, with the firm hailing artificial intelligence for producing much of the savings. David Sandström, chief marketing officer at Klarna, said last week the firm’s use of AI was “driving more marketing activity while saving tens of millions of dollars a year.” He said one example was using AI-generated pictures instead of paying for stock photos. Staff at the firm, which has a partnership with OpenAI, have built over 300 generative AI projects for internal use.

https://www.bloomberg.com/news/articles/2024-05-30/klarna-swings-into-quarterly-profit-with-29-revenue-jump?sref=EcccZSTc