Swedish fintech firm Klarna has launched an AI-powered image recognition tool to help people find products they want to buy. The feature, which was rolled out on Wednesday, allows users to point their phone at an item of clothing or an electronics product and find results for similar items directly within the Klarna app. Here are some key details about the new tool:
- The tool is trained on data from PriceRunner, a price comparison service Klarna acquired for close to $1 billion.
- Klarna’s image recognition tech is more focused on a shopping experience rather than pointing users toward more general search results on the web, making it more appealing than Google’s tool.
- The new tool is part of Klarna’s push toward profitability and becoming a leaner business.
Klarna’s new image recognition tool is similar to Google Lens, which also directs users to suggestions based on items captured by their camera. However, Klarna’s tool is more focused on shopping, making it a more specific and useful tool for users who are looking to buy products. The tool is part of Klarna’s broader push toward AI and becoming a more agile business that can take advantage of emerging opportunities.
Klarna’s unique operating model gives it the agility to take advantage of emerging opportunities that deliver superior consumer benefits, such as AI, faster than sprawling traditional banks and credit card companies. The new image recognition tool is just one example of how Klarna is using AI to improve the shopping experience for its users.
With its focus on shopping and its ability to quickly adapt to new technologies, Klarna is well-positioned to take on big U.S. tech giants like Google and Amazon in the e-commerce space. Klarna’s Shopping Lens tool is a valuable tool for shoppers who want to find the best deals on products. It is easy to use and provides accurate results.
