Klarna Using GenAI To Cut Marketing Costs By $10 Million Annually

Fintech firm Klarna, one of the early adopters of generative AI said on Tuesday it is using AI for purposes such as running marketing campaigns and generating images, saving about $10 million in costs annually. From a report: The company has cut its sales and marketing budget by 11% in the first quarter, with AI responsible for 37% of the cost savings, while increasing the number of campaigns, the company said. Using GenAI tools like Midjourney, DALL-E, and Firefly for image generation, Klarna said it has reduced image production costs by $6 million.

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