By Supantha Mukherjee and Echo Wang

STOCKHOLM/NEW YORK (Reuters) -After becoming one of the early adopters in Europe of artificial intelligence, Klarna CEO Sebastian Siemiatkowski says the lender may have gone too far in using the technology to cut costs at the expense of service and product improvement.

Global companies are racing to harness AI to help them improve efficiency, lower operational costs and enhance decision-making, but the transition is proving rocky.

Sweden’s buy-now, pay-later lender Klarna has cut thousands of jobs, dropped vendors such as Salesforce Inc and turned to AI to create marketing campaigns, saving millions but now realizing it went too fast, too soon.

“We probably over indexed a little bit on that, and then in the last six months we have been trying to cour

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