From Nasdaq: 2024-05-28 14:02:00

Oliver Wyman, a business of Marsh & McLennan Companies, released a report on AI’s impact on leisure travel, surveying 2,100 customers in Canada and the US. Online travel agencies have a potential revenue increase of $2 billion by 2029 if they invest in AI capabilities. Oliver Wyman’s Q1 revenues rose by 13%.

In the travel industry, AI tools for planning are used more by travelers under 45, with more than 90% of travelers using AI for booking. The report highlights the need for travel companies to invest in gen AI tools to improve customer loyalty and direct bookings. Investments in AI systems are expected to drive industry innovation.

Marsh & McLennan’s stock has increased by 20% in the past year, outperforming the industry. Other finance stocks to consider are Coinbase Global, Burford Capital, and Brown & Brown with Zacks Ranks #1 and #2. These stocks show potential for growth in earnings and revenues, with positive earnings estimates and average surprises.

Read more at Nasdaq: Marsh & McLennan (MMC) Survey Stresses AI Role in Travel Booking