Swedish fintech company Klarna has already begun replacing human workforce with AI, with its AI assistant taking over the work of 700 employees. This comes a year after the company laid off a similar number of employees due to economic uncertainties and potential recession. However, Klarna clarified that the productivity of the AI assistant had no connection to the earlier staff reductions.
Key takeaways:
- Generative AI could lead to fewer hirings in organisations in the future, according to an Infosys executive, as companies become more efficient and require fewer people for traditional jobs.
- Satish H C, executive vice-president and co-head (delivery) at Infosys, predicts this shift will happen gradually over the next three to five years.
- Infosys is adapting to become an 'AI first' company, after initially struggling to become 'digital first'.
- Swedish financial technology company, Klarna, has already replaced the work of 700 employees with an AI assistant, although the company states this is not connected to previous staff reductions.