AI gives Ukrainian internet taxi start-up real competitive edge

Summary:

Ukranian company Uklon gives citizens and business travellers to major Ukranian cities fast and convenient taxi services. Facing intense competition in this sizeable local market from established international brands like Uber, Uklon implemented optimal fare price to bid used Machine Learning. The benefits of this solution are:

• Customers immediately accepted the suggested fair 75% of time
• Boosted average successful taxi bookings by 18% at peak times
• Net Promoter Score (NPS) has increased to 30

Problem:

There are no standard fares for Ukrainian cabs, so customers needing a ride sometimes need to ‘bid up’ at busy times to secure a driver. This can take time and needs the customer to guesstimate the best new tariff they want to offer a driver – it was in effect a “lottery,” in the words of co-founder and Chief Technology Officer, Vitaliy Diatlenko.