Global Business Travel Group, Inc. (NYSE:GBTG) Q4 2023 Earnings Call Transcript

Paul Abbott: Yes. Look. Thank you. I think the key point for me here is that we have both the expertise and the opportunity to make a significant difference through AI and automation. And what I mean by that is we have the expertise because 78% of our transactions come through digital channels. We own our own software platforms in Neo and Egencia. We’ve been using machine learning and AI for several years to deliver strong results in terms of our drive to automate our business and our drive to generate efficiencies and margin expansion. So we’ve got the expertise here, but we also got the opportunity. 40% of our costs are still, people in servicing organization. We have significant amount of cost in our finance organization and also in our product and platform engineering teams.

And those are the areas that we’ve identified where we see proven use cases for AI and generative AI in order to take out significant cost and really improve productivity. And we have a 3-year plan, for our cost reduction efforts and our margin expansion efforts. And our AI initiative is an important part of that. So you’re going to see the results from those initiatives show in the margin expansion of the business as we go through ’24, ’25 and ’26.

Operator: This concludes our Q&A. I’ll now hand back to Paul Abbott, CEO, for final remarks.

Paul Abbott: Okay. Well, thank you. Thank you for the questions. In closing, I would just like to thank our team for their dedication to our customers, the strong results they delivered in 2023. We are very confident that ’24 is going to be another year of share gains, strong growth in profits and cash flow and continued margin expansion. Thank you very much for joining us today and your continued interest in American Express Global Business Travel. Thank you.