How Klarna is using AI for cost savings, changing ‘extremely frustrating’ creative processes
Klarna, the buy now and pay later fintech company, believes that using AI is already helping it with cost savings in marketing.
The company estimates that using AI in marketing has accounted for a 37% cost savings of roughly $10 million per year. Klarna has started to use AI for ideation, image creation and translation efforts to create more personalized campaigns for consumers across its 45 markets.
Throughout the first quarter of 2024, Klarna used AI to generate 1,000 images using generative AI tools like Firefly, Midjourney and DALL-E. During that same time period, Klarna decreased its spending by 25% on external marketing suppliers responsible for services like translation, production CRM as well as social agencies.
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Source:: Digiday
