Klarna Takes Aim At Google, Amazon With AI Tool
Swedish startup Klarna is launching an artificial intelligence-powered image recognition tool to help users find products they want to buy. The tool, trained on data from PriceRunner, a price comparison service acquired by Klarna for nearly $1 billion, allows users to point their phone at clothing or electronics items and find similar results within the Klarna app. The tool competes with Amazon, Google’s Google Shopping, and French-founded firm Kelkoo.
Klarna is focusing on AI as a significant opportunity, providing tools and support for its employees to use AI in their daily tasks. The company’s unique operating model allows it to capitalize on emerging opportunities faster than traditional banks and credit card companies. Users can now find product recommendations within the Klarna app by pointing their phone at clothing or gadget items. Klarna’s image recognition technology is appealing over Google because it focuses on a shopping experience rather than general search results.
(With inputs from Shikha Singh)
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