Business News Report
October 11, 2023

Klarna Launches AI-Driven ‘Photo’ Shopping for Direct Purchases Through Phone Images

In Brief

Swedish fintech company Klarna has unveiled an AI-powered shopping feature that allows users to purchase products directly from photos taken with their mobile devices.

Klarna Unveils AI-Powered Shopping Feature Enabling Image-Based Purchases

Swedish fintech giant Klarna has launched an innovative AI-driven shopping tool, developed in collaboration with OpenAI, to allow users to purchase products directly from photos taken with their mobile devices. 

The feature aims to streamline the shopping experience by seamlessly transforming images into purchasable items within seconds through Klarna’s mobile app. The shopping tool has been made available to consumers in the United States, the United Kingdom, Germany, Sweden, Denmark and Norway.

Klarna’s AI-driven shopping tool can identify more than 10 million diverse products, including clothing, home decor and electronics, while also providing price comparisons, retailer information and customer reviews. To ensure privacy, the AI system avoids recognizing images of people’s faces or bodies.

The strategic move aligns with a broader trend among startup companies, which are integrating AI technology to bolster their market positioning and valuation as they anticipate eventual initial public offerings. 

Notably, Klarna’s shopping lens sets itself apart from Google’s Lens tool by being purposefully designed for shopping, catering exclusively to users’ product purchase needs.

Klarna reached monthly profitability faster than expected, showing its growth and recovery despite a previous drop in value.

In June, Microsoft launched AI-powered shopping tools for Bing and Edge to enhance the online shopping experience. The tools simplify product discovery, research, and purchases, offering tailored recommendations, product specifications, summarized reviews, and insights to help users make informed decisions.

In addition, the Price Match feature monitors prices and allows users to request a match if the price drops and Microsoft has partnered with US retailers for this service. Other built-in features like Price Comparison, Price History, Coupons, Cashback, and Package Tracking aim to streamline shopping.

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About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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