Skift Take
Rashad Jorden
Good morning from Skift. It's Friday, May 24th, and we're here to tell you what you need to know about the travel industry today.
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Episode Notes
OpenAI, Google and Meta have big plans for AI chatbots that will act as personal assistants for travelers. Travel tech reporter Justin Dawes reviews the latest developments and brings you the key takeaways.
OpenAI plans to release a new voice translation feature in the near future that can understand non-verbal cues and recognize different voices in group conversations. Dawes noted that OpenAI's voicebots could break down language barriers that prevent travelers from visiting certain destinations. OpenAI and Meta are also touting the visual translation capabilities of their technology, such as helping travelers understand menus that aren't in their native language.
Dawes noted that OpenAI is furthest along in developing a virtual personal assistant that can become a tour guide, while Google is furthest along in developing trip-planning tools integrated with booking options.
Second, Chase Travel saw revenue growth on par with Booking Holdings last year, but Chase said it faces headwinds, according to editor-in-chief Dennis Schaal.
Chase Travel reported that total bookings for 2023 will grow 25% year over year, slightly ahead of Booking Holdings' 24%, compared with just 10% growth for Expedia Group.Chase Travel executives have said they are aiming to take share from competitors like Booking Holdings and Expedia, both of which have been in business for decades.
Chase Travel reported at its recent annual investor conference that “macro travel industry headwinds” are impacting its margins, and a Chase Travel executive told investors the company is seeing slowing growth in spending by luxury travelers.
Finally, India's largest airline, IndiGo, is set to launch a business class product by the end of this year, reports Asia Editor Peden Doma Bhutia.
CEO Peter Elbers said the new product is part of IndiGo's plan to adapt to changes in the Indian travel industry, adding that the airline is seeing growing demand for premium travel. He also expressed confidence that the new service will cater to the needs of corporate travelers. Elbers indicated that IndiGo plans to announce information about the new routes in August.
Producer/Presenter: José Marmolejos
