MakeMyTrip's AI Advancements Secure Buy Rating from Morgan Stanley

MakeMyTrip has upgraded its AI trip planning assistant, Myra, with multi-modal and multi-lingual capabilities. Analyst Gaurav Rateria of Morgan Stanley maintains a Buy rating and $118 price target, citing the company's competitive advantage in the online travel agency market. This move addresses investor concerns about potential disruptions from AI-enabled search platforms.

MakeMyTrip has significantly upgraded its AI trip planning assistant, Myra, by introducing multi-modal and multi-lingual capabilities. This enhancement aims to provide a more seamless and inclusive travel booking experience for users across India. The upgraded Myra supports text, voice, image, and video inputs, enabling real-time booking across various travel categories [1].

The multi-lingual feature, initially available in Hindi and English, is set to expand to more Indian languages soon. This development is particularly beneficial for users who are more comfortable communicating in Hindi or other regional languages, potentially bridging the gap for travelers from non-metro areas [2]. The AI assistant is designed to support users through every stage of their travel journey, from discovery to post-trip services [3].

Rajesh Magow, co-founder and group CEO of MakeMyTrip, emphasized the potential of this technology to address the needs of the "Bharat heartland" by reaching underserved regions. He stated, "We have always believed that technology is at its best when it solves complex problems behind the scenes, while making the customer interface as intuitive and as delightful as possible. With GenAI, we take that vision further by turning intent into action through natural, human-like conversations" [1].

Analyst Gaurav Rateria of Morgan Stanley maintains a Buy rating and $118 price target for MakeMyTrip, citing the company's competitive advantage in the online travel agency market. This move addresses investor concerns about potential disruptions from AI-enabled search platforms. The enhanced capabilities of Myra are expected to drive user engagement and loyalty, potentially increasing market share in the competitive online travel industry [1].

MakeMyTrip plans to further enhance Myra's capabilities in the future, including improving semantic search and introducing AI features that utilize images and videos for trip planning. The company aims to keep redefining how travelers plan, book, and experience journeys as the GenAI platform evolves [3].

References:
[1] https://timesofindia.indiatimes.com/india/makemytrip-launches-ai-based-trip-planning-assistant/articleshow/123160997.cms
[2] https://theoutpost.ai/news-story/make-my-trip-launches-myra-a-multilingual-ai-travel-assistant-for-seamless-trip-planning-18812/
[3] https://www.bwmarketingworld.com/article/makemytrips-myra-gets-ai-upgrade-plans-multi-language-rollout-566634