What is Asian SuperApp Grab?
Grab is a dominant superapp based in Singapore, offering a wide range of services including ride-hailing, food delivery, and financial services. Launched in 2012 as a ride-hailing app similar to Uber, Grab has since expanded its services broadly. It now includes loans, insurance, payments, and investments, all accessible through a mobile phone app. In 2018, Grab pushed Uber out of Southeast Asia, further solidifying its position as a leading Superapp.
Gen AI and Cloud Optimization Help Asian SuperApp Grab Turn a Profit
Grab, a leading Superapp in Southeast Asia has achieved a significant milestone by turning a profit for the first time in the fourth quarter of 2023. This accomplishment comes after the company implemented various cost-cutting measures and embraced generative artificial intelligence (Gen AI) to optimize its operations.
In Short
- Grab, the Asian SuperApp, reports its first-ever net profit.
- A 32% decline in cloud costs and an 18% reduction in total headcount contribute to the profit.
- Gen AI plays a crucial role in Grab’s success, reducing content generation time from 99 hours to just 90 minutes.
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