Air Serbia and Sabre bet on artificial intelligence
The airline will be the first to implement Air Price IQTM, a solution that provides a seamless experience for its travelers and maximizes revenue opportunities for the firm
Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, is partnering with Air Serbia to launch dynamic offers into today's competitive marketplace. Considering customer segmentation and travel purpose, Air Price IQ supports airlines in their efforts to provide a seamless experience to its travelers while maximizing revenue opportunities.
Air Price IQ provides the technology for airlines to generate relevant offers by analyzing the airlines' own shopping and revenue management data in real time along with relevant marketplace insights. The cloud-native solution utilizes artificial intelligence (AI) to optimize price and help airlines drive higher conversion rates and improved yield by delivering more relevant offers across all channels.
"Given the challenges the travel industry has faced through the pandemic, creating products that better meet the expectations of travelers and improve profitability for airlines at the same time is more important than ever," said Wade Jones, Chief Product Officer, Sabre Travel Solutions. "To match travelers to the right fares at the right times requires intelligent systems that analyze large volumes of data at scale and use advanced machine learning models to deliver actionable insights. We are delighted to have found a forward-thinking, innovative partner in Air Serbia to work with us in preparing for this paradigm shift in travel."
Air Price IQ is part of Retail Intelligence, the first suite of products powered by Sabre Travel AI™ technology using advanced machine learning models to test and learn in the moment. Sabre Travel AI™ is an innovative capability combining Sabre's travel technology expertise with state-of-the-art AI technology and advanced machine-learning services.
"As an industry we are facing a rapid pace of change," said Jiří Marek, CEO, Air Serbia. "After the challenges brought about by the COVID-19 pandemic, we are now looking forward to the opportunities of the summer season and exploring new ones. We must realize these opportunities in this volatile environment, while delivering an enhanced booking and travel experience to our customers. Sabre's innovative Air Price IQ is a key driver in our move from static pricing to dynamically created personalized offers."
In the current environment, airlines require intelligent systems to manage increased complexity, channel fragmentation and ever more sophisticated traveler expectations. The results of a recent study commissioned by Sabre and carried out by research consultancy Dr. Fried & Partner revealed that travelers consider more decision factors than ever before when booking travel, while expecting their travel provider to deliver a seamless, comfortable experience. Sabre's Air Price IQ is designed to help meet these evolving demands.