Fintech Company Klarna Integrates ChatGPT Into Platform to Provide Product Recommendations to Users

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March 24, 2023

Swedish fintech company that provides online financial services such as payments for online storefronts and direct payments along with post-purchase payments Klarna, has recently integrated OpenAI ChatGPT into its platform to provide product recommendations to users.

According to the firm, the AI technology will go live with a highly personalized and intuitive shopping experience by providing curated product recommendations to users who ask the platform for shopping advice and inspiration, along with links to shop those products via Klarna’s search and compare tool.

Commenting on the integration of ChatGPT into its products, the CEO and co-founder of Klarna wrote, “I’m super excited about our plugin with ChatGPT because it passes my ‘north star’ criteria that I call my ‘mom test,’ I.e would my mom understand and benefit from this. And it does because it is easy to use and genuinely solves tons of problems, it drives tremendous value for everyone.

“Klarna is in a unique position to leverage the best technology and data to help people discover new products and solve problems for consumers at every stage of the shopping journey, and we will continue innovating to bring these services to our 150 million consumers.”

Klarna disclosed that the plugin will first be available to ChatGPT plus subscribers in the U.S. and Canada, and will subsequently be rolled out to other regions as it is currently passing through a safe testing phase.

Klarna is the latest tech company to integrate ChatGPT into its product to enhance users’ experience. The fintech firm is on a mission to provide millions of users with a new, engaging, and intuitive way to discover products they love, while also creating opportunities for retailers to connect with broader audiences and acquire new customers.

How ChatGPT Will Work on Klarna

Consumers can install the Klarna plugin from ChatGPTs plugin store
After it has been installed, consumers can go ahead to ask ChatGPT for shopping ideas to get a curated selection of items relevant to their request. ChatGPT automatically chooses when to use the plugin based on the conversation
Shoppers have the option to provide further prompts or request additional product recommendations
By tapping on the product link, consumers can easily navigate to the product page on Klarna’s search and compare tool to compare prices across different brands.

Klarna’s core service is to provide payment processing services for the e-commerce industry, managing store claims and customer payments. The fintech firm is widely known as a “Buy now, pay later” (BNPL) service provider, offering customers credit on their purchases as part of the checkout process.

In 2021, the company reportedly handled US$80 billion in online sales. In the same year, Klarna 2021, emerged as Europe’s most valuable private tech company, with a valuation of $45.6 billion, however, it witnessed a massive decline to $6.7 billion in 2022.

ChatGPT’s new plugins. No longer limited to information in its training data ending in 2021, a small set of users now have ChatGPT plugins. At first, people will have access to 11 plug-ins for external sites like Expedia, OpenTable, and OpenAI’s own plugins, which can interpret code and pull information from the internet. OpenAI boasted about the variety of new use cases like browsing product catalogs, booking flights, or ordering food while also stressing that there could be negative consequences. “At the same time, there’s a risk that plugins could increase safety challenges by taking harmful or unintended actions, increasing the capabilities of bad actors who would defraud, mislead, or abuse others,” OpenAI said in an announcement post.

What are Bitcoin NFTs? A Comprehensive Guide to Getting Started

By

Olaseni Kehinde Precious

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March 24, 2023

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The Origins of Bitcoin NFTs

Bitcoin NFTs have a history that predates Ethereum and Solana NFTs. The concept first emerged in 2012 with Meni Rosenfeld’s paper on “Colored Coins.” This approach sought to embed additional information within Bitcoin transactions to represent various assets. However, the technology and research at the time were not advanced for practical implementation.

In 2014, Counterparty emerged as an early pioneer of Bitcoin NFTs. It introduced “The First Rare Pepes” in September 2016, a collection of collectible Pepe the Frog memes traded using Bitcoin or Counterparty’s native token (XCP). The OP_RETURN function, which allowed data storage up to 80 bytes on the Bitcoin blockchain, proved inadequate for sustaining these collectibles.

In 2023, Bitcoin NFTs gained prominence through a method called “Ordinals,” allowing the Bitcoin blockchain to securely store and transfer NFTs.

The Emergence of Ordinals

Ordinals, introduced by Casey Rodarmor, represent a significant advancement in Bitcoin NFTs. Rodarmor developed the “Ord” wallet, which assigns unique numbers to each Satoshi (the smallest unit of Bitcoin). Users can attach media files, such as images or videos, to these numbered Satoshis, thus creating digital assets or NFTs.

What Are Ordinals and How Do They Work?

Ordinals assign a unique number to each Satoshi, allowing precise tracking and identification of Bitcoin units. This system provides greater granularity in monitoring Bitcoin movements.

What are Digital Artefacts?

Digital Artefacts are NFTs that are immutable once they have been created. To qualify as a digital artefact, an NFT must adhere to a standard protocol for compatibility with decentralized platforms, be stored on a decentralized blockchain, and be freely transferable without external restrictions.

What are Inscriptions?

Inscriptions are digital artefacts added to Bitcoin using the Ord client. They do not require sidechains or separate tokens and can be viewed publicly via the original Bitcoin blockchain explorer.

What is the value of Bitcoin NFTs?

The value of Bitcoin NFTs is influenced by factors such as rarity, demand, and the overall Bitcoin market conditions. The reputation and experience of the creator also play a role in determining value.

How to Get Started with Bitcoin NFTs

To invest in Bitcoin NFTs:

i. Run a full Bitcoin node to create, sell, or transfer NFTs on the network.
ii. Use a wallet like Sparrow Wallet to manage Bitcoin and NFTs.

Advantages of Bitcoin NFTs

Bitcoin NFTs are important to the growth of Web3 and blockchain at large. Below are some of the benefits of Bitcoin NFTs:

Ecosystem Expansion

Bitcoin NFTs attract new creators and users. This encourages widespread adoption and expands the blockchain ecosystem as a whole.

Community Building

Bitcoin NFTs create a community around digital collectibles, providing new monetization avenues for creators.

Innovative Use Case

NFTs offer a novel application for Bitcoin beyond its traditional role of serving as a digital value exchange.

Disadvantages of Bitcoin NFTs

While Bitcoin NFTs are essential for fostering Web3 growth and ecosystem expansion, they have certain limitations. Below are some of the weaknesses of Bitcoin NFTs:

Slower Transactions

Bitcoin’s transaction speed (approximately 7 transactions per second) could lead to higher fees and longer confirmation times as NFT transactions increase.

Node Requirement

Running a full node is necessary to create, sell, or transfer Bitcoin NFTs, which may be a barrier for some users.

Selling or Transferring Bitcoin NFTs Without a Full Node

To sell or transfer Bitcoin NFTs without running a full node:

Join the Community

Engage with NFT communities, such as Discord, for minting opportunities.

Utilize P2P or OTC Trading

Connect with buyers through Peer-to-Peer (P2P) or Over-the-Counter (OTC) channels.
Make sure you are in the Discord community and have the mint opportunity.
Send crypto to the creator to help you keep the NFT in his wallet.
Use the Peer-2-Peer or OTC Trading channel to connect with your buyer.
Chat with your buyer and have a mutual agreement.
Reach out to the creator and request an escrow service.
The buyer sends the crypto to the escrow, and the escrow releases your NFT to their wallet.
The escrow releases the crypto to you.

Creating Your Own Bitcoin NFTs

To create a Bitcoin NFT:

Use the Ord Wallet
Execute the command `ord wallet inscribe file.jpg` to inscribe an NFT on the Bitcoin blockchain
Set Custom Fee Rates. Use `ord –wallet ord-dotta wallet inscribe file.jpg –fee-rate 5` for custom fees.
Manage UTXOs: Each NFT inscription requires a separate Unspent Transaction Output (UTXO). Ensure sufficient Bitcoin to cover minting fees.

How to Evaluate Bitcoin NFTs for Investment

When evaluating Bitcoin NFTs, consider various factors similar to other asset criteria, such as the project team, roadmap, and influential figures. However, the unique and unconventional nature of Bitcoin NFTs can make their value harder to assess compared to Ethereum or other blockchain NFTs.

Additionally, focus on derivative or historically significant projects, as they mostly have higher demand and are easier to liquidate in any market.

Finally, target top Bitcoin NFTs, which are more expensive due to their rarity. The earlier an NFT is inscribed, the greater its demand and perceived value.

Conclusion

Bitcoin NFTs have shown promising potential since their inception, emerging from early concepts like Colored Coins to a more advanced Ordinals system. While they offer exciting opportunities for innovation, community building, and expanding the Bitcoin ecosystem, their future remains uncertain. As with any emerging technology, it is important to conduct thorough research before investing.

Why We’re Using LinkedIn

By

Ndubuisi Ekekwe

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March 24, 2023

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When McKinsey & Company did it, it was evident that other big consulting companies will follow, and cut workers: “An Irish-American professional services company based in Dublin, which specializes in information technology services and consulting, Accenture, has revealed plans to trim its workforce by laying off 19,000 workers”. The new normal since Q4 2022 is that when companies trim workers, Wall Street rejoices. Accenture’s stock is up more than 7% since this announcement. Of course, without this redesign, there will not be a LinkedIn.

Accenture is laying off 19,000 employees worldwide — about 2.5% of its workforce — and consolidating office space as it seeks to shrink costs amid rising economic uncertainty. The Irish-American consulting giant said the layoffs will mostly affect employees in in back-office or non-client facing roles; it expects to spend $1.2 billion on severance over the next 18 months. A slowdown in client spending has hit other consultancies: KPMG recently announced it was cutting 2% of its U.S. workforce and McKinsey is reportedly considering eliminating 2,000 jobs.

Accenture also lowered its revenue growth outlook for the current fiscal year to between 8% to 10%, down from a previous estimate of 8% to 11%.

For decades, the social contract of labour was to get a job in a company, grow on that job, and retire while working for that firm. Then, people spent decades in one company. The phrases “company man”, “company lifer”, and “one-company man” made sense.

Then in early 1980s, the redesign started: companies started killing that social work contract between employer and employee. Legends like Jack Welch of GE made it a management system – fire the bottom performers, promote the best. It went wild and just like that, there was no hiding place. American law evolved, the world followed: no human has any protection from axing managers. Labour was indeed labour, tedious and painful because jobs were offered as “as is”, uncontracted for most workers.

Before then, employees were loyal. Resumes or CVs were like classified documents: they were totally personal and secretive. But as the employees saw the dismantling of the work order, they revolted. They needed to, because they had lives and families to take care.

LinkedIn, a professional networking site, provided a cover, for these global employees. Simply, across industrial sectors, people felt it was normal to post their resumes publicly, for all to see, including the present employer and potential ones. The secretive resumes were gone. You can see the resumes unconstrained and unbounded on LinkedIn. That was a new world.

A local Nigerian proverb explains it all: “As hunters have learned to shoot without missing, birds will have no choice but learn to fly without perching”. In my local language which I share with peerless Chinua Achebe, he used the Eneke, a bird, to take home the same point, “Men have learned to shoot without missing their mark and I have learned to fly without perching on a twig.” We are the Enekes and we are flying on LinkedIn without deleting our accounts. That is the only way to survive in a world of firing managers.

Comment on Feed

Comment 1: It’s interesting to see how the social contract of labor has evolved over the years, and how technology like LinkedIn has provided new opportunities for job seekers to connect with potential employers.

However, the constant need to be “available” and to showcase oneself can inadvertently create a sense of competition and pressure that may not always be healthy or sustainable.

Comment 2: Now we describe our career in terms of roles we’ve played across board and not the ladder we’ve climbed in one organization.

Even athletes score against a club at the beginning of a season, and lift trophies with it by the second half of the season. Maybe we would reserve loyalty for family.

Global IT Firm Accenture Plans to Trim Its workforce by Laying Off 19,000 Workers

By

Ojukwu Emmanuel

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March 24, 2023

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An Irish-American professional services company based in Dublin, which specializes in information technology services and consulting, Accenture, has revealed plans to trim its workforce by laying off 19,000 workers.

The global IT firm revealed in a filing on Thursday its plans to spend $1.2 billion in severance to cut 2.5% of its workforce over the next 18 months, and another $300 million to consolidate its office space. It also lowered its forecasts with revenue expected to grow between 8% and 10% this fiscal year, down from a previous range of 8% to 11%.

Accenture, which has 738,000 employees globally, disclosed in its latest quarterly report to the Securities and Exchange Commission (SEC) that it continues to hire, but had initiated actions to streamline its operations and transform its non-billable corporate functions to reduce costs.

The CEO of the IT firm Julie Sweet said in a statement, “We are also taking efforts to cut our expenses in the fiscal year 2024 and beyond while continuing to invest in our business and our people to grasp the enormous growth possibilities ahead”.

Shares in Accenture rose as much as 8.4% in New York following this announcement. The company also said bookings rose to a record $22.1 billion in its second quarter, beating estimates, a 13% increase from the same period last year. Over half of the total new bookings came from managed services with consulting making up the rest. Revenue also rose 5% to $15.8 billion.

Accenture’s proposed layoffs are coming after the firm increased its headcount between Feb. 28, 2022, and Feb. 28, 2023, by about 39,000 to 738,000 employees. The cuts also came after it had gone on a massive acquisition spree. In 2022, the company made 25 acquisitions worldwide which include Barcelona-Based Alfa Consulting, Argentina-based Ergo, Brussels-based Greenfish, and Minnesota-based the stable.

Commenting on the firm’s layoff, a top sales executive for an SP 500 solution provider stated that he was not surprised by Accenture’s proposed plan to layoff some of its workers, given the buying spree by the systems.

He said, “Big companies like Accenture always over-rotate when they are pursuing a growing market like cloud. Their sales go up for several years but they fail to anticipate economic factors that could slow growth down. Three years from now they will be returning people when the economy is good again”.

He further added that he sees the layoff as a sign that Accenture is seeing a slowdown in the rapid lift and shift move to the cloud that came in the wake of the covid-19 pandemic.

Accenture is a $61.6-billion-in-annual-revenue technology and consulting company incorporated in Dublin, Ireland. The IT firm reported revenues of $61.6 billion in 2022. Its current clients include 91 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500.

As of 2022, Accenture was considered the largest consulting firm in the world by the number of employees (738,000) and has a market value of $184, 927 million. The company has a network of nearly 400 innovation centers, studios, and centers of excellence around the world to deliver cutting-edge research, insights, and solutions to clients where they operate and live.

Top Crypto Tokens for a Potentially Profitable Crypto Portfolio: Algorand & Big Eyes Coin

By

TI Partners

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March 24, 2023

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In 2023, the price of Algorand (ALGO) and a new cryptocurrency, Big Eyes Coin (BIG), may rise more than other cryptocurrencies. This might place owners of both coins among the year’s top gainers.

Many industry insiders have high hopes for this year, predicting that it won’t be much worse for cryptocurrencies than in 2022. This year, things may look up for those who have chosen to invest in certain cryptocurrencies.

Some analysts believe that Algorand (ALGO) and Big Eyes Coin (BIG) are valuable investments because of their potential to multiply one’s wealth. The excitement surrounding these three cryptocurrencies is worth discussing in this article.

Algorand (ALGO) – Securing Digital Transactions

The Algorand platform delivers an independently operable, scalable, and secure blockchain network for its users. Blockchain technology is the driving force behind many other innovations, including decentralized finance and generative NFTs. Involvement in these activities can lead to tangible financial gains.

Cryptocurrency market participants can rely on Algorand (ALGO) because it was developed to be both a practical and secure system for dealing with digital transactions. Its concept is based on its ability to employ a specialized algorithm, which allows transactions to be processed more quickly and securely than other cryptocurrencies.

Even though Algorand (ALGO) is not the oldest cryptocurrency, its novel approach to digital transactions has attracted the attention of both investors and consumers. Algorand has performed as promised, and it is already a household name among cryptocurrency investors.

In Q1 of 2022, Algorand (ALGO) received funding from Genesis-Capital, Coinbase Ventures, Borderless Capital, ParaFi Capital, The Algorand Foundation, OKEx Blockdream Ventures, and Jump Crypto, among others. Algorand (ALGO) is one of the best cryptocurrencies you can buy right now, and this is clear evidence of its legitimacy.

Big Eyes Coin (BIG) – Exciting Meme to Top the Market

Big Eyes Coin (BIG) is another fantastic meme coin to have in your cryptocurrency holdings. It’s so good that some could call it “best” right now. Big Eyes Coin (BIG) stands apart from the doge ecosystem with its distinctive token design, including a cat motif, and its absence of competition increases the possibility of widespread adoption.

Big Eyes Coin is becoming increasingly well-known despite being a basic presale token. The new cryptocurrency has gained much traction because of its developers’ efforts.

The Big Eyes Coin community is one of the aspects that sets it unique from other meme coins. The coin is based on a decentralized mechanism that gives token holders a voice in shaping the future of the network.

Besides its utility in DeFi and NFTs, Big Eyes Coin (BIG) features a swap and a marketplace. Every transaction on the network is initiated and settled in BIG, the native token and currency of the project.

Big Eyes Coin hopes to thrive in the market by capitalizing on its unique characteristics, strong community, and existing brand recognition. Experts anticipate that the meme currency will achieve even more success than the current top meme tokens, and joining its presale might give you access to substantial profits. The token’s release date is approaching, and early adopters will be rewarded for their participation.

Follow Big Eyes:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL