Grab's AI-driven speed bump
Grab's CFO, Peter Oey, says AI has become a core part of the company's workflow — from shipping to internal operations. He claimed the use of artificial intelligence has helped the company ship products more than 30% faster, boosting efficiency and squeezing better margins out of every transaction.
The second-quarter results showed a 28% year-on-year jump in the number of rides and revenue climbing 22% to $997 million. Grab made an operating profit of $19 million in June — a 186% rise compared with the previous year. Shares in the Nasdaq-listed company jumped 4.86% after hours as it raised its full-year revenue forecast.
Grab’s expansion holds a key
Grab is still waiting for regulatory clearance to complete its $45 million acquisition of foodpanda in Taiwan. Oey said the company is in close discussion with authorities. He hopes to wrap it up by the end of the year. The move is part of a plan to bring Southeast Asian digital habits to the island. Though no date has been set, the deal remains a moving target.
Oey also highlighted July as a strong month. Demand stayed robust. Financial services grew at what he called an 'inflection point.' But even with AI making delivery snappier, Grab’s growth still depends on closing that last deal.