Sabre Corporation has released the first two products in the company’s Retail Intelligence suite – Sabre Air Price IQ and Sabre Ancillary IQ for the dynamic pricing of airfare and ancillaries, respectively.
Powered by Sabre Travel AI, which integrates Sabre technology with Google Cloud’s artificial intelligence (AI) technology and advanced machine-learning services, Retail Intelligence enables airlines to dynamically provide offers to travellers based on preferences, marketplace insights and purchase probability.
Sabre Travel AI is a creation of the Sabre + Google Innovation Framework, formed through Sabre’s strategic partnership with Google.
“We are facing a rapidly changing world and the travel ecosystem looks very different than it did just 18 months ago,” said Wade Jones, chief product officer, Sabre Travel Solutions.
“Traveller expectations for relevant and personalised offers are growing, and airlines are more focused than ever on becoming sophisticated retailers. Relying on traditional strategies based on historical data patterns isn’t enough – airlines need intelligent solutions driven by artificial intelligence and machine learning. This is what we are offering with Sabre’s Retail Intelligence suite of products.”
Sabre Air Price IQ increases airlines’ pricing agility and precision by allowing airlines to adapt quickly to changing marketplace conditions. Considering traveller segment and trip intent from the shopping request, the product supports an airline’s efforts to maximise revenue opportunities while providing a seamless experience to travellers.
Sabre Ancillary IQ uses machine learning to present ancillary offers based on multiple factors, including real-time shopping data and purchase probability to increase incremental revenue opportunities and traveller satisfaction. As a result, airlines can deliver increased value and more choice to their travellers.
The products are expected to boost airlines’ incremental revenue by up to three per cent when combined with upcoming products being added to the Retail Intelligence suite in 2022.
Sundar Narasimhan, president, Sabre Labs and Product Strategy, said: “As travel retailing becomes more complex to meet increasingly sophisticated consumer expectations, the rules-based technology in use across the industry today will no longer deliver satisfactory results.
“To truly modernise travel retailing, the industry requires intelligent systems that allow for continuous learning and scaling at speed. At Sabre, we are focused on equipping our customers with those AI-based solutions that will modernise the way we shop, book and experience travel, delivering incremental value for our customers and the travellers they serve.”
Sabre and Google are developing other innovative new technology that delivers modern, data-driven, omni-channel solutions that enable highly personalised traveller experiences.