DailyPost 2712

While debates will keep on raging on the impact of Artificial Intelligence on the job market; how well we performed in the previous industrial revolutions and we came out unscathed, so to say. That new jobs would be created with the advent of this new all-pervasive technology, what would be the nature of those jobs? Does the *work in general moves to a qualitatively higher level? When language, precision, data and predictability become the order of the day, then for how long and how many would last is doubtful, given the present-day average skills of supposedly a knowledge employee.

How many and how fast can they be brought to a level of knowledge worker of the AI age? With domain becoming more and more critical, even training an AI model will not happen by any run of the mill expert, how many can take that leap. It would be a different world altogether. The tech is already here, knocking at our doors, the imagination is missing or the courage to face defeat is missing, but the given the AI is establishing itself, it seems success would be imminent as long you are ready to give a serious try, spend your time and energy and have the perseverance to create an AI use case for your business. When your house now needs a type of lighting and that is smart and intelligent, with all the possible features, can professional work be far behind.

This is the crux, a cofounder and CEO of a Swedish fintech giant has done it and that too quietly. Klarna the company being talked about has a new employee; artificial intelligence. It’s been working for last four weeks. CEO Sebastian Siemiatkowski “ its ChatGPT-powered AI assistant to drive an estimated $40 million in new profit in 2024.” Klarna is one of the first businesses to adopt ChatGPT Enterprise. While it experimented with other potential AI providers, the company acknowledges that it had maximum success with ChatGPT. Seimiatkowski says, “when it comes to reasoning capabilities and text generation, nobody’s is even close.”

The CEO is an interview declined to go into the details of training the AI assistant but he did liken that the process was like training a human agent. It is important to be very specific and granular about how you onboard the assistant so it can to its job properly. The output should always be in mind. In case of Klarna the AI assistant’s capability to take action has led 25% drop in repeat enquiries. It has brought down the average time of customer service from 11 minutes to just two. The mindboggling achievement of the AI assistant is that it can communicate in more than 35 languages, leading to “massive improvement in communication with local immigrant and expat communities.” The AI assistant handled 2.3 million conversations in four weeks accounting for two-thirds of Klara’s customer service chats for the month. This would add up to the work of 700 full-time human agents.

Sanjay Sahay

Have a nice evening.

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