Travel software provider IBS Group has\u00a0 launched a newco that will make use of AI tools in order to combine the functions of the company\u2019s existing software suite with AI capabilities to improve operations and create new revenue streams.<\/p>\n
Known as Naviq Technology, the standalone business will work with airlines, airports, cruise operators, hospitality groups and travel agents, the company has ambitious growth plans, targeting a workforce with a global headcount of \u2018over 5,000\u2019 over the next five years.<\/p>\n
READ:\u00a0Dogra joins IBS Software to advance AI-native travel technology<\/a><\/strong><\/p>\n \u201cTravel is at a turning point,\u201d said V.K. Mathews, Founder and Executive Chairman of IBS Group. \u201cNaviq gives the market something it has not had before: a technology and consulting company that understands the complexities of global travel and offers transformative solutions at scale using specialised AI tools.\u201d<\/p>\n Naviq will focus on large-scale AI adoption and data-driven operations, positioning itself as a preferred implementation and \u2018transformation partner\u2019 for IBS Software customers.<\/p>\n Formed in 1997, a major development at IBS Group occurred in 2023, when funds advised by private equity firm Apax Partners invested approximately $450 million for a stake in the business. Founder V.K. Mathews remained the majority shareholder and executive chairman.<\/p>\n While not IBS Group\u2019s first foray in to AI-powered systems, the Naviq formation represents a significant investment by IBS Group as it seeks to strengthen its position in the travel technology market.<\/p>\n The post IBS Group bets on airline AI with launch of Naviq Technology<\/a> appeared first on Aviation Business News<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Travel software provider IBS Group has\u00a0 launched a newco that will make use of AI tools in order to combine the functions of the company\u2019s existing software suite with AI capabilities to improve operations and create new revenue streams. Known as Naviq Technology, the standalone business will work with airlines, airports, cruise operators, hospitality groups […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2532","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/posts\/2532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/comments?post=2532"}],"version-history":[{"count":0,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/posts\/2532\/revisions"}],"wp:attachment":[{"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/media?parent=2532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/categories?post=2532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zephyrsys.us\/index.php\/wp-json\/wp\/v2\/tags?post=2532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}