The chief executive of Southeast Asia’s largest ride-hailing and delivery company says artificial intelligence will be key to overcoming rising fuel costs and economic challenges facing the industry.
Anthony Tan, CEO of Singapore-based Grab, told Reuters that AI-powered products and services will help the company maintain growth while addressing customer affordability concerns amid rising fuel prices linked to Middle East conflicts.
The company recently made its first expansion beyond Southeast Asia by acquiring Delivery Hero’s Foodpanda operation in Taiwan earlier this year.
However, Grab’s revenue projections for fiscal 2026 came in lower than what Wall Street analysts expected, suggesting slower growth in its primary ride-hailing and delivery sectors as consumers face economic uncertainty.
“Call us maybe bold, but we just have a lot of belief in our AI-led product strategy and it’s paying off. We’ve seen it in our results and we continue to see it grow,” Tan said during a Reuters interview following a Jakarta product launch event.
“The reality is that the fuel cost situation is real for everyone. How do companies like us translate that into a way of how to be even more conscious of our customers’ wallets?” he added.
Despite reporting its first annual net profit in February after 14 years of operation, the Nasdaq-traded company’s financial forecasts disappointed investors. Grab’s stock price has dropped nearly 30% year-to-date.
Tan emphasized that the company’s size, with an estimated market value of $14.5 billion according to LSEG, provides a competitive advantage by generating valuable data for growth initiatives.
“As we make things more affordable, more people are ordering. That’s the best way to drive growth, where you can find and build AI-led growth that no one else has shown and built before,” he explained.
On Wednesday, Grab introduced 13 new products, including a “group ride” option that uses artificial intelligence to automatically calculate more accurate fare splits for multiple passengers, potentially reducing costs by up to 40%.
The company did not disclose the total investment amount for developing these 13 AI-powered products.
Indonesia, which represents the region’s largest economy and Grab’s biggest market among eight countries where it operates, will see a broader rollout of these features soon.
“We are very happy to be in Indonesia and I can tell you, we’re just going to keep doubling down,” Tan stated.
