Grab looks to further efficiency gains via generative AI

Mobility and financial services super app Grab says it is piloting initiatives around cost savings as well as using large language models to translate content.

During the Singapore-based company's first quarter 2023 earnings call, co-founder, chairman and chief executive Antony Tan described the company as "early adopters of data science in the region."

"An example of how we're using AI is demonstrated by our use of heat maps," he said. "In our early years, these heat maps helped to create more income opportunities for our driver partners. And today, they're even more robust. Combined with other AI tools, these heat maps are also used for better fulfillment of our on-demand services. This has helped to reduce surge pricing, create more efficient trips and increase driver earnings."

On developments with generative artificial intelligence, Tan said the company was looking to use it to "further boost productivity."

"We anticipate that it will play an increasingly important role for us to deliver better user experiences and drive greater cost efficiencies across our platform."

Tan was speaking as Grab reported Q1 revenue of $525 million, a 130% increase year over year. The company's quarterly loss decreased 43% to $250 million while adjusted EBITDA improved by 77% to a loss of $66 million year over year.

On the earnings he said: “With five sequential quarters of adjusted EBITDA improvements, we remain on track on our path to profitability and to achieve group adjusted EBITDA breakeven in the fourth quarter of this year. We are confident that we can drive growth for mobility and deliveries and create more income opportunities for our partners to meet the growing demand from both travelers and domestic consumers.”