Klarna has introduced a discovery shopping feed, which is powered by its own artificial intelligence (AI) capabilities. This latest effort aims to strengthen Klarna as the shopping destination of choice , and evolve its scope outside of its original buy now, pay later (BNPL) positioning.
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The discovery shopping feed, leverages AI to provide customers with personalized product recommendations, which update products in real time. According to the company, recommendations become more fine-tuned and tailored as the AI engine learns more about the customer’s preferences.
This discovery shopping feed tool will enhance Klarna’s existing search and compare tool, which enables customers to find products they’re looking for that fit their budget. This isn’t Klarna’s first foray with AI. In fact, the company is the first European company to partner with ChatGPT to develop product recommendations for customers. Klarna worked closely with ChatGPT to create a plugin and use AI to offer customers a more enhanced shopping experience.
Klarna also developed Ask Klarna, a free personal shopping service that enables shoppers to have on-demand access to shopping experts. Through the service, they’re able to speak with an expert via chat or video call via Klarna’s app or website.
According to Klarna co-founder and CEO Sebastian Siemiatkowski, the company “hopes to empower their customers with all the information they need to make the right purchasing choice, all from the comfort of their home.”
He added:
“Over the last 18 years, we’ve transformed into a global shopping destination with smart tools for consumers around the world. Our new AI powered discovery shopping feed is the next evolution of the Klarna app becoming the starting point for every purchase. This builds on a ton of initiatives we’re working on in the AI space, to provide a greater level of personalisation to consumers that was once thought impossible.”
With major players such as Apple moving into the BNPL space, more fintech innovations that leverage the power of AI will be seen in the near future.