Shares in accommodation platform Airbnb (ABNB) dived today despite hiring a Meta (META) guru to help develop “more human” driven AI-travel services.
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AI Travel Concierge
In an email to staff, Airbnb co-founder and chief executive Brian Chesky said that Ahmad Al-Dahle was joining from tech titan Meta to be its new Chief Technology Officer. He will replace former tech chief Ari Balogh, who stepped down in December after more than seven years at the company.
Chesky described Al-Dahle as one of the world’s leading experts in AI, having led Generative Ai at Meta and the team behind the Llama family of open source models. He previously worked at Apple (AAPL) on the iPhone two years before it launched. He became one of Apple’s core technologists behind the iPhone’s display and multitouch systems.
“He is the right leader to join Airbnb at such a pivotal moment,” said Chesky. “I couldn’t be more excited to welcome Ahmad to Airbnb. I can’t wait for what we’ll build together, and how we can make the world feel a little more human.”
He added that Al-Dahle would help the company “shape how people travel, live, and interact with AI in a way that strengthens human connection.”
“He connects big ideas with technical depth, highly values design, and believes engineering should be a true strategic partner in everything we do,” said Chesky.
Airbnb is currently implementing AI agents into its business to improve customer service, personalize recommendations and facilitate trip planning.
“AI is 24/7, speaks every language, can learn from millions and millions of customer actions to help you. … And with Ahmad we’re going to be able to move up funnel to travel search,” Chesky told CNBC. “And imagine one day Airbnb is this travel concierge, this companion that’s with you the entire trip. That’s where we’re going.”
Impressive AI Resume
According to TipRanks AI analyst the departure of Balogh was a negative factor holding back the stock – see below. Our analyst said during a major AI integration phase the departure “elevates execution risk on technology initiatives.”
The hope for Airbnb is that the arrival of Al-Dahle will help eleviate those concerns. As Chesky said his resume is impressive.
At Apple he worked in its core technology platform group, shipping major features in nearly a dozen devices, including the first Apple Watch. In 2014, Ahmad created and led Apple’s autonomous technology group, responsible for developing the core AI systems for the company’s self-driving car project. In 2020, Ahmad joined Meta to lead mapping and applied AI within Reality Labs. In early 2023, following the launch of ChatGPT, he founded Meta’s Generative AI group.
Is ABNB a Good Stock to Buy Now?
On TipRanks, ABNB has a Moderate Buy consensus based on 12 Buy, 16 Hold and 2 Sell ratings. Its highest price target is $180. ABNB stock’s consensus price target is $144.36, implying a 7.88% upside.
