Airbnb (ABNB) has spent years telling investors artificial intelligence could transform travel.
Now it has a number to back up that claim
Airbnb shares surged about 14% on Aug. 7 to their highest level in four years after the company raised its annual revenue-growth outlook and reported better-than-expected second-quarter results, Reuters reported. Revenue increased 17% to $3.61 billion, while the company now expects full-year revenue growth in the mid-teens rather than its previous low-to-mid-teens forecast. But one figure buried in those data may matter more to stockholders.
Airbnb claimed its AI customer-support assistant upgrades helped reduce support costs per booking by 16% compared to a year ago, according to Reuters. This is important because AI investment across corporate America has posed a tough challenge for investors: Where is the refund? Airbnb is starting to offer an answer.