Sebastian Siemiatkowski, the CEO of Klarna, a Swedish fintech company valued at US$15 billion, recently revealed in an interview with Bloomberg TV that the company ceased active recruitment about a year ago. Siemiatkowski mentioned that artificial intelligence (AI) is now capable of performing most tasks, stating, “It’s just a question of how we apply it and use it.”
Klarna, known for its “buy now, pay later” service and banking license in Europe, serves 85 million customers across approximately 600,000 retailers worldwide. Over the past year, the company’s workforce has decreased from 4,500 to 3,500 employees due to what Siemiatkowski described as “natural attrition.”
Despite the decrease in headcount, Siemiatkowski shared some positive news for employees. He explained that the total salary cost of Klarna will shrink, but employees will see an increase in their paychecks due to the efficiency gains from AI implementation.
As with previous technological revolutions, the rise of AI is expected to create new and better-paying job opportunities in different sectors. Companies like Klarna are adapting to the AI revolution by backfilling only essential engineering roles. However, the overall trend suggests that more companies will seek to leverage AI technology for various products and services.
The historical comparison is drawn to past technological advancements, such as the mechanized cotton loom, which initially displaced workers but eventually led to the creation of completely new types of jobs.
In conclusion, the evolution of AI may lead to initial job displacement, but it is also likely to pave the way for unforeseen opportunities and better-paid positions in various industries. Stay tuned for more updates on the AI revolution and its impact on the workforce.
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