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Regarding the internal uses of AI for Booking, they have mentioned that in the short term, one of the main benefits might be the reduction of customer service costs. What is your take on that?

Yes, there will be. Obviously, customer service is a significant challenge in the hotel and flight booking world. It's a bigger challenge with flights than hotels, especially when flight cancellations occur. For example, on average, a flight cancellation or rescheduling call can last 45 minutes to an hour, which is quite expensive. We don't have a large profit margin on flights. On the hotel side, it's not as costly, with calls lasting maybe 5 to 10 minutes. However, even in that scenario, level one support for customer service, whether it's voice, which is multimodal, or chat, is much more accessible with LLM agents than it was five years ago. There is a significant cost advantage in some cases. Booking is four brands: Booking, Priceline, Kayak, Agora. Each brand has a different approach to customer service. All of that will also become cheaper, so there is clearly an advantage there.

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