Market Chatter: Grab Leaning on AI Strategy to Weather Rising Fuel Costs

MT Newswires Live04-08 19:49

Grab (GRAB) expects its artificial intelligence-powered products and services to help the company weather challenges related to increasing fuel costs and drive growth, Reuters reported Wednesday, citing Grab Chief Executive Anthony Tan.

The company introduced new products, including a group ride feature that uses AI to calculate a more precise split of fares between travelers in a group, allowing customers to save up to 40% on fares, the report said.

"We just have a lot of belief in our AI-led product strategy and it's paying off. We've seen it in our results and we continue to see it grow," Tan told Reuters.

Grab did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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We've seen it in our results and we continue to see it grow,\" Tan told Reuters.</p><p>Grab did not immediately respond to MT Newswires' request for a comment.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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