Brian Chesky, the CEO of lodging platform Airbnb (ABNB), says that the company is interested in using ChatGPT’s AI technology, but isn’t moving forward with it yet because the software isn’t ready. In an interview with CNBC’s Squawk Box, Chesky explained that the current software development kit “wasn’t quite robust enough” for Airbnb’s needs. However, he confirmed that the firm would “probably” look to integrate ChatGPT in the future.
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In the meantime, Airbnb is rolling out other AI and social features. For example, on Tuesday, it added the ability for guests to send direct messages and view who else is attending an experience. It also introduced a more advanced version of its in-house chatbot, which can now handle tasks like canceling or changing reservations for users in North America.
In a separate interview with Bloomberg, Chesky said that Airbnb’s chatbot was built using a mix of 13 different AI models and currently relies heavily on Alibaba’s (BABA) Qwen model. Unsurprisingly, he believes that the AI boom is just beginning and expects it to drive a wave of new consumer apps. Chesky also warned that trying to build everything in-house would be too difficult, thereby suggesting that partnerships across the tech industry will be the best way to unlock AI’s full potential.
Is ABNB Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on ABNB stock based on 12 Buys, 15 Holds, and five Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average ABNB price target of $139.28 per share implies 8.8% upside potential.
