How MakeMyTrip Plans to Ramp Up Its Use of Gen AI

Skift10-23

Last quarter, MakeMyTrip introduced Myra, an AI-powered chatbot designed to streamline international flight bookings. Myra has since evolved, and currently handles hotel and homestay bookings, ...

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Myra has since evolved, and currently handles hotel and homestay bookings, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/makemytrip-plans-ramp-gen-ai-154849340.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How MakeMyTrip Plans to Ramp Up Its Use of Gen AI</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow MakeMyTrip Plans to Ramp Up Its Use of Gen AI\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-23 23:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/makemytrip-plans-ramp-gen-ai-154849340.html><strong>Skift</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last quarter, MakeMyTrip introduced Myra, an AI-powered chatbot designed to streamline international flight bookings. Myra has since evolved, and currently handles hotel and homestay bookings, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/makemytrip-plans-ramp-gen-ai-154849340.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4523","symbol_name":"印度概念","start_time":0,"source_url":"https://finance.yahoo.com/news/makemytrip-plans-ramp-gen-ai-154849340.html","article_id":"2477371553","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/BYa269fowXwtcU4t1Pt1IA--~B/aD02ODM7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/skift_501/621359882365a743a67bfb63176ed3ac"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477371553","pubTimestamp":1729698529,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Last quarter, MakeMyTrip introduced Myra, an AI-powered chatbot designed to streamline international flight bookings. Myra has since evolved, and currently handles hotel and homestay bookings, providing real-time assistance based on a wealth of proprietary data, including customer reviews.The online travel company will now be using Gen AI to handle pricing and availability queries, as well as provide personalized hotel recommendations, Group CEO Rajesh Magow said during Wednesday’s earnings call.One of the most significant impacts of MakeMyTrip’s AI efforts has been in customer service. By deploying Gen AI-based bots, particularly on its bus booking channel — the RedBus app, the company has seen productivity gains and a 45% decrease in customer service agent involvement.While the early results of AI deployment are promising, MakeMyTrip acknowledges that it will take time for the full effects to materialize. Magow emphasized that although efficiency gains have been realized, especially ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4523":"印度概念","BK4585":"ETF&股票定投概念","LU0300738514.USD":"TEMPLETON EMERG MKTS SMALLER CO \"A\"(USD) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","GEN":"GEN DIGITAL INC","SG9999002950.SGD":"United Asian Growth Opportunities SGD","LU0823038988.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) ACC","LU0048575426.USD":"FIDELITY EMERGING MARKETS \"A\" INC","LU0261950470.USD":"FIDELITY EMERGING MARKETS \"A\" ACC","LU0823039010.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) INC","LU0390135506.SGD":"FTIF - Templeton Asian Smaller Companies A Acc SGD","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","BK4588":"碎股","SG9999001069.SGD":"UOB UNITED ASIA PACIFIC GROWTH (SGD) ACC","LU0390135688.USD":"TEMPLETON ASIAN SMALLER COMPANIES \"A\" (USD) INC","BK4097":"系统软件","SG9999001051.SGD":"United Asia Fund SGD","SG9999006597.SGD":"United China-India Dynamic Growth SGD","BK4142":"酒店、度假村与豪华游轮","LU0300738605.USD":"TEMPLETON EMERG MKTS SMALLER CO \"A\" INC","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0390135332.USD":"TEMPLETON ASIAN SMALLER COMPANIES \"A\" (USD) ACC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU0348744763.USD":"ALLIANZ ASIA PACIFIC INCOME \"A\" (USD) INC","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","LU1481012133.USD":"FIDELITY EMERGING MARKETS \"A\" (USDHDG) INC","MMYT":"MakeMyTrip Limited","LU1282649141.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (HKD) INC","LU0348766576.USD":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","LU0348767384.USD":"ALLIANZLITTLE DRAGONS \"A\" (USD) ACC"},"translate_title":"MakeMyTrip计划如何增加对Gen AI的使用","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GEN":1,"MMYT":1},"content_text":"Last quarter, MakeMyTrip introduced Myra, an AI-powered chatbot designed to streamline international flight bookings. Myra has since evolved, and currently handles hotel and homestay bookings, providing real-time assistance based on a wealth of proprietary data, including customer reviews.\nThe online travel company will now be using Gen AI to handle pricing and availability queries, as well as provide personalized hotel recommendations, Group CEO Rajesh Magow said during Wednesday’s earnings call.\nMyra’s success in managing tasks like flight details, date changes, and ancillary services has been notable, according to Magow. “The chatbot delivers accurate and personalized responses to even the most detailed inquiries,” he said.\nOne of the most significant impacts of MakeMyTrip’s AI efforts has been in customer service. By deploying Gen AI-based bots, particularly on its bus booking channel — the RedBus app, the company has seen productivity gains and a 45% decrease in customer service agent involvement.\nWhile the early results of AI deployment are promising, MakeMyTrip acknowledges that it will take time for the full effects to materialize. Magow emphasized that although efficiency gains have been realized, especially in customer service, the broader impact on profitability is still a few quarters away.\nAI for Trip Planning\nMakeMyTrip’s AI strategy extends beyond basic customer queries. The company is exploring the broader potential of AI to assist with trip planning, offering more personalized recommendations. \n“As we improve the capabilities of the interface, we believe it will lead to better customer experiences and, ultimately, higher conversions,” Magow added.\nThe iterative nature of AI, which thrives on continuous feedback and refinement, will be crucial in making these tools more intuitive.\nThe Connected Trip Experience\nWhile understanding that convenience is king, MakeMyTrip has launched a “considerably improved connected trips experience.”\nIt allows users to seamlessly to book other products and services needed for the trip, helping MakeMyTrip drive cross-sell and upsell opportunities.\n“To help consumers who may call their bookings on a single platform, we have launched a considerably improved connected trips experience, completely built in-house on the strength of our data science capability,” Magow said.\nThe Financials\nFor the quarter ending September 30, 2024, MakeMyTrip reported $211 million in revenue, marking a 25% increase compared to the same period last year. Adjusted operating profit reached $37.5 million, reflecting a year-on-year growth of about 33%.\nWhile the July-September period is typically a low season for leisure travel, Magow attributed the revenue boost to strong travel demand in India, both domestically and internationally, despite short-term disruptions caused by unusually heavy rainfall that slightly affected demand momentum.\nGet breaking travel news and exclusive hotel, airline, and tourism research and insights at Skift.com.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2477371553"}