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Feb. 28, 2024, 2:58 a.m.
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Shares of Teleperformance (TEPRF. PA) sank to their lowest level in seven years on Thursday due to concerns over the potential disruption of the French call centre firm's business by artificial intelligence (AI). This decline was reportedly influenced by a statement made by Swedish fintech company Klarna on Wednesday, which highlighted the positive impact of its AI assistant, powered by Open AI, on its results. As of 11:15 GMT, Teleperformance shares were down 27% at 97. 04 euros ($104. 92) in Paris, making it the largest one-day drop since November 2022. Teleperformance had recently announced its push towards generative AI, with plans to automate 20% to 30% of its activities within the next three years.

However, the company has since tempered expectations due to clients' limited response to the new technology. Analysts had already identified Teleperformance as a potential target for disruption by AI. Teleperformance has not commented on this matter so far. In other news, Bumble announced on Tuesday that it would be cutting around 350 jobs, a strategic move by new CEO Lidiane Jones, as the online dating company anticipates disappointing first-quarter revenue amidst a slowdown in user spending.



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