Fake listings have become a significant issue for Airbnb, posing a risk to customer trust and prompting the company to utilize artificial intelligence (AI) to combat fraud. According to Airbnb, it has already removed 59,000 fake listings and prevented 157,000 others from joining the platform this year.
Airbnb conducted a company survey which revealed that fake listings and high cleaning fees were among the main concerns raised by its users. Additionally, customers expressed a desire for lower prices. Responding to this feedback, the company has taken action by giving consumers the option to sort listings by all-in pricing, resulting in more than 260,000 listings lowering or removing cleaning fees this year. Despite this initiative, only around one-third of Airbnb renters are currently utilizing it.
In an interview, CEO Brian Chesky acknowledged the concerns raised by users, stating, “We got a lot of feedback that Airbnb is not as affordable as it used to be.” Therefore, Airbnb is implementing new measures, including “seasonal dynamic pricing” technology that will enable hosts to adjust prices more frequently, similar to airlines and hotels. This feature aims to encourage hosts to lower prices during off-peak seasons while potentially allowing them to raise prices during peak periods.
To combat the increasing prevalence of fake listings, Airbnb has also announced plans to begin verifying all listings in its top five markets, which include the United States and the United Kingdom. This verification process will involve hosts physically going to the property and using the Airbnb app to verify their location. GPS technology will confirm that they are at the correct address, while AI will compare live photos to those used in the listing. Starting in February, properties in the US, UK, Canada, France, and Australia that pass the verification process will be marked with a “verified” icon. The company intends to expand this verification process to 30 additional countries by late next year.
In addition to the financial costs incurred from fraudulent listings, Airbnb emphasizes that the potential damage to its reputation is the greatest risk. CEO Brian Chesky expressed the importance of maintaining customer trust, stating, “If you can’t trust when you book an Airbnb that it’s real and you’re going to like it, then you’re going to stay in a hotel.”
Going forward, Airbnb plans to leverage AI to verify listings in its top five markets. By implementing these measures, the company aims to address the issue of fake listings and provide customers with a more trustworthy and reliable platform for short-term rentals.
Sources: The Star
Credit: The Star : Tech Feed
