Airbnb ‘uniquely’ benefits from AI, says CEO ‘excited’ – Airbnb…

Airbnb ‘uniquely’ benefits from AI, says CEO ‘excited’ – Airbnb…

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Airbnb Inc ABNB CEO Brian Chesky touched on the changing landscape for technology in the enterprise Fourth Quarter Results conference call on Tuesday.

What happened: Chesky said he was “very excited about the possibilities of [Artificial Intelligence] AI.”

The executive said, “Airbnb will benefit from this in a unique way.” He argued that AirBnB faces a difficult “product challenge” because, unlike hotels, the company does not have inventory items (SKUs) or representative inventory.

“Every one of our 6.6 million listings are unique guests who left more than 100 million reviews last year. And analyzing all of these reviews is great,” Chesky said.

He said that AI would benefit Airbnb’s “Long Tail of Data” since it’s not really a search problem, it’s a matching problem.

See also: How to buy Airbnb (ABNB) shares

Why it matters: Airbnb reported revenue of $1.9 billion in the fourth quarter, up 24% year over year Benzinga data.

Net income for the period was $319 million.

For the current year, Airbnb said it wants to grow beyond the core and “lay the foundation for future products and services that will provide incremental growth for years to come.”

Airbnb is forecasting revenue of $1.75 billion to $1.82 billion for the first quarter, ahead of Street’s estimate of $1.69 billion.

Price promotion: On Tuesday, Airbnb shares soared nearly 10% to $132.90 in after-hours trading after closing 3.8% higher at $120.87 in the regular session Data from Benzinga Pro.

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