UK: Discerning traveller booking platform Plum Guide has implemented artificial intelligence [AI] in a move that is “revolutionising” the brand’s home acquisition process, boosting business efficiencies and fuelling growth.
The AI adoption has led to Plum Guide:
- “Doubling” the amount of homes on the platform in the last year;
- “Quadrupling” revenue per head of the acquisition team;
- “Slashing the cost of adding a home by 85 per cent”;
- And “accelerating the number of homes added per person by 500 per cent”
While the integration of AI into Plum Guide’s processes was a gradual one, the company says that it is now yielding a match rate of 91 per cent between the creative director and creative AI. It has been able to do this by leveraging the learning from those homes that have previously passed [and failed] Plum Guide’s rigid criteria and by developing key engines, such as the capacity to tag rooms and differentiate by location and price point.
OpenAI tools, like ChatGPT, have also revolutionised listing production, drastically cutting down the time it takes to create a listing. Home descriptions are so well-written and on brand that distinguishing them from human-written versions is challenging, however, human expertise remains an essential part of Plum Guide’s vetting process to ensure the best possible stay.
Recent home names vetoed by the vetting team that had been generated through AI – ‘Spanish Swinger’ and ‘The Dustbin’ for example – demonstrate the need to leverage the very best of human intelligence and machine learning.
Plum Guide co-founder and CEO, Doron Meyassed, shared the insights at Skift’s Short-Term Rental Summit in New York City this week. Emphasising the vital role that AI plays in the industry’s future, Meyassed underscores two main trends:
AI’s potential to expose mediocrity and the need for hyper-targeted offerings in the market: “The adoption of AI should not provoke wariness. Rather, it is revolutionising the industry. Embracing the change is integral to success and future growth,” said Meyassed.
He added: “Reviews eliminated terrible experiences; AI will eradicate the mediocre ones.”
Founded in the UK in 2016, Plum Guide is now present in over 500 locations across 29 different countries. The brand is planning to expand its presence further, with 60 new destinations set to launch in key holiday locations this year.
The company also won two awards at the 2023 Shortyz Awards in April, for ‘Best sales & marketing campaign’ and ‘Best OTA / online accommodation booking platform’.