Klarna CEO Sebastian Siemiatkowski has warned that artificial intelligence is beginning to reshape white-collar employment in ways that could impact borrowers traditionally seen as financially stable. Speaking to Fox Business, he cautioned that AI-related layoffs are no longer limited to lower-wage or manual labor roles, but are increasingly affecting professionals with strong credit histories and steady incomes.
Siemiatkowski pointed out that while overall consumer financial health appears stable, the rapid adoption of AI poses a growing risk to prime borrowers — individuals who have historically been seen as low-risk by lenders. He emphasized that this trend could create long-term challenges for credit markets, particularly as financial institutions may need to adjust how they assess risk in a changing job landscape.
Klarna, the Sweden-based buy-now-pay-later company, reported strong growth in the latest quarter. Global revenue increased by 26% year-over-year to approximately $903 million, and U.S. revenue surged by 51%. The company expects to top $1 billion in revenue in the fourth quarter, signaling continued momentum in consumer spending heading into the holiday season.
Despite the growth, Klarna posted a net loss of $95 million. The loss was largely attributed to new financing products and the need to set aside reserves for potential loan defaults. Siemiatkowski noted that economic uncertainty linked to AI-driven job displacement is one of the factors the company is monitoring closely as it evaluates lending risks going forward.
As AI continues to influence workplace dynamics, financial institutions are increasingly weighing how this shift may affect borrower reliability. The traditional definition of “prime” may evolve, as job security in white-collar sectors becomes less predictable.
