Klarna CEO Sebastian Siemiatkowski admits using AI to cut costs may have hurt product and service quality. The company has cut jobs, dropped vendors, and turned to AI for marketing campaigns, saving millions but realizing it went too fast. Despite AI’s efficiency in handling customer queries, Klarna is now focused on productivity and product improvement. The company raised $1.37 billion in its U.S. IPO, valuing it at $15 billion, setting a trend for fintech listings. Klarna is hiring again and believes AI can provide better services to customers and merchants. Siemiatkowski did not sell his shares in the IPO, comparing it to a wedding – a big event followed by life continuing.

Read more at Yahoo Finance: Europe’s AI poster child Klarna taps the brakes on chatbots