Klarna founder and chief executive officer Sebastian Siemiatkowski said last Tuesday, March 4, that companies operating in the software-as-a-service (SaaS) area are likely to consolidate as customers of firms in the appropriate category involved in the process of adopting artificial intelligence strive for the so-called hub of knowledge.
Mr. Siemiatkowski published a post on the social media platform X on Tuesday, which contains information that his company has stopped using about 1,200 SaaS suppliers, opting for its own internal technology stack. At the same time, he doubts that other firms will follow suit. In his opinion, a scenario in which fewer SaaS will consolidate the market is more likely. He stated that these companies will do what is being implemented as part of the operation of Klarna and offer it to others.
The brand, headed by Sebastian Siemiatkowski, after exploring the potential of artificial intelligence and large language models, concluded that feeding LLM with fragmented corporate data would result in a very confusing functioning of the corresponding digital products. Information from the firm was fragmented because it was spread out across a range of SaaS tools.
Sebastian Siemiatkowski stated that Klarna has decided to start consolidating, connecting knowledge, and removing the silos. According to him, the side effect of the implementation of this decision was the liquidation of not all, but many Saas services. He noted that in this case, the goal is to unify and standardize the company’s knowledge and data, rather than the license fees, although such savings were nice.
Mr. Siemiatkowski compared the process of artificial intelligence growth with the growth of mobile devices. In the relevant context, he stated that when mobile devices just came long, there were statements about mobile first. In his opinion, the moment has already come to make statements about AI first. He stated that all companies operating in the SaaS area will need to learn, adopt, and evolve.
In May, Klarna published information according to which the deployment of artificial intelligence tools helped the firm reduce operating expenses by 11%. The company stated that the corresponding result is related to the high efficiency of using machine intelligence tools. In this context, it was separately noted that 90% of the employees of the firm leverage artificial intelligence in their daily work. In a financial update released in May, it was highlighted that the internal machine intelligence revolution has been further developed with Kiti, Klarna’s bespoke internal digital intelligence assistant, which has adeptly responded to over 250,000 inquiries. In this case, there is another example of the practice of using artificial intelligence as a working tool. In the relevant context, it is worth noting that this is not innovation for the sake of innovation, but a truly effective solution that generates positive results. The practice of using artificial intelligence as a working tool is highly likely to scale.
As we have reported earlier, Klarna Scores Global Payment Deal With Stripe.
