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Gen Z ‘really loves chatting,’ says Affirm CEO, highlights potential savings benefits of AI – Affirm Holdings (NASDAQ:AFRM)


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Max LevchinCEO I confirm Holdings Inc (NASDAQ:AFRM), a major player in the buy now, pay later market, has revealed that the younger generation, especially Gen Z, strongly prefers AI-powered chatbots over traditional phone calls.

What happened: Levchin made this observation during Wednesday’s earnings call, Business Insider reported. He emphasized that the company is investing heavily in AI chatbots because Generation Z consumers prefer this method of communication.

“We’ve invested a lot in the idea that Gen Z consumers actually prefer chatting to calling and have no problem talking to Al, especially if Al is intelligent,” Levchin said.

Levchin said chatbots are especially popular for quick queries, such as policy questions. For more complex problems, human agents take over. Implementing chatbots also made it easier to scale Affirm’s customer service team.

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He further mentioned that the company has developed an AI-based assistant that was tested in the last quarter. After using the bot, less than 40% of users needed to talk to a human. Levchin also highlighted the potential savings benefits of AI over the next one to three years.

Why is it important?: The growing popularity of AI chatbots among Generation Z is part of a broader trend of integrating artificial intelligence in various sectors. Companies are increasingly using artificial intelligence to improve customer service and streamline operations.

In September, Metaplatforms announced plans to deploy innovative AI chatbots with distinct personalities to engage a younger demographic. The move reflects the growing importance of artificial intelligence in youth-focused marketing strategies.

Moreover, the rapid adoption of AI chatbots is evident in China, where Baidu IncErnie Bot has surpassed 200 million users. This highlights the global trend of AI chatbot integration and its potential to revolutionize customer service.

Meanwhile, Amazon.com, Inc. launched an AI chatbot called Q to help users understand the capabilities of Amazon Web Services and solve problems. This move by Amazon aims to revolutionize business operations and challenge tech giants such as Microsoft AND Google in the domain of productivity software.

Read next: Trump says that if the Supreme Court rules that the president won’t get immunity, Biden will be prosecuted for everyone

Photo via Shutterstock


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27% profits every 20 days?

This is what Nic Chahine is buying with his options. We do not sell call options or spreads… I BUY options. Most traders don’t even have the winning percentage of 27% of a call option. Its effectiveness is 83%. Here’s how he does it.


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