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Market
What will be the impact on marketing job positions at Klarna by end of 2024?
4
Resolution / Starting Odds
No change • 25%
Reduction by less than 10% • 25%
Reduction by 10% to 20% • 25%
Reduction by more than 20% • 25%
Klarna's HR reports or official announcements
Story
Klarna Saves $10 Million Annually with AI, Swings to Quarterly Profit
May 30, 2024, 12:04 PM
Klarna, a buy-now-pay-later firm, has significantly reduced its marketing expenses by leveraging generative AI technologies. The company reported savings of $10 million annually by cutting agency costs by 25%. Klarna's CMO, David Sandström, highlighted that the use of AI tools such as Midjourney and DALL-E has saved $1.5 million on image production costs in the first quarter alone, reducing the image development timeline from six weeks to seven days. The adoption of AI has enabled Klarna to produce 1,000 in-house AI-generated images in just three months, covering creative concepts and quality. This shift has allowed the company to spend less on photographers, image banks, and marketing agencies. The financial benefits of this digital transformation, which includes a partnership with OpenAI, have also contributed to Klarna swinging into a quarterly profit. However, this move has also led to job destruction in the marketing sector.
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Similar markets
Yes • 50%
No • 50%
Less than 10,000 • 33%
Between 10,000 and 15,000 • 34%
More than 15,000 • 33%
Less than 500,000 • 33%
Between 500,000 and 600,000 • 34%
More than 600,000 • 33%
Major policy overhaul • 33%
Minor adjustments • 33%
No significant change • 33%
Decrease in employment • 33%
No significant change • 34%
Increase in employment • 33%
Less than 180,000 • 33%
Between 180,000 and 200,000 • 34%
More than 200,000 • 33%
No job cuts • 20%
Small scale (less than 10%) • 20%
Moderate scale (10% to 20%) • 20%
Large scale (more than 20%) • 20%
Complete restructuring • 20%
Increase • 33%
Decrease • 33%
Remain the same • 34%
Below 7.5M • 33%
Between 7.5M and 8M • 34%
Above 8M • 33%
No Change • 33%
New Marketing VP • 33%
Other Major Changes • 33%