AI assistants are now doing the work of 700 full time agents at Corona. They moved issue resolving times from 11 minutes with humans to two minutes with AI. And so far, their AI has had 2.3 million conversations accounting for two thirds of corners, customer support chats, its AI agent will drive wait for it a $40 million increase in profits this year.

This is one of the first few times where you're seeing something in production where there's measurable economic value. And the important thing to note about that is that it's not just what it means for Klarna, but what it means for everybody else. So if you look at everybody else, for example, here's Teleperformance, which is a French company that runs call centers, they lost $1.7 billion of market cap when that tweak went up about 20% of their market cap.

This is the real practical implication. Yes, Klarna replaced 700 people, and they say 40 million of OpEx, but Teleperformance while they were just doing their everyday work lost 1.8 billion of their market cap at the exact same moment.