CEO Brian Chesky says Airbnb is going to become an AI-first app with agents that can book trips for you

Airbnb is setting its sights on becoming an AI-centric platform that can handle bookings on behalf of its users, according to CEO Brian Chesky. During a recent earnings call discussing the company's performance in the second quarter, Chesky shared his ambitious vision for the app's evolution, aiming to transform it into an all-encompassing travel resource. Following a successful quarter that exceeded revenue expectations, Airbnb also announced a significant $6 billion stock buyback. However, the company anticipates a slowdown in growth for the upcoming quarter, which resulted in a more than 6% decline in stock value after hours. Chesky emphasized that in the next few years, Airbnb will shift towards becoming an application primarily driven by artificial intelligence. He noted that currently, few top apps incorporate AI, with OpenAI's ChatGPT as a notable example. However, he predicts that the landscape will soon change, with a majority of these applications evolving into AI-powered tools. Unlike other travel companies that focus on AI for travel planning and inspiration, Airbnb's strategy has centered on enhancing customer service. The company has implemented an AI-driven customer service agent, leveraging 13 distinct models trained on thousands of interactions. This advancement has led to a 15% reduction in the need for human agent involvement from both hosts and guests. Chesky foresees the AI agent becoming increasingly personalized over the next year, capable of taking proactive actions for users. "It won't just inform you about how to cancel a reservation; it will know which reservation you're referring to and can handle the cancellation for you. It will assist in searching and planning your next trip as well," he explained. In earlier discussions, Chesky had expressed caution about the current applicability of AI for trip planning, believing it might take some time before it fully influences the travel sector. He envisions Airbnb evolving into the 'Amazon of travel,' serving as a one-stop solution for all travel-related needs. Additionally, Airbnb is revitalizing its Experiences business and introducing Services to allow users to book local professionals such as photographers and massage therapists. On the call, Chesky conveyed his enthusiasm for the Experiences segment, highlighting positive early feedback.