Overview
- The Information, citing an OpenAI spokesperson, reported that OpenAI will move checkout flows from ChatGPT into third-party apps rather than completing purchases inside the chatbot.
- Shares of online travel agencies rallied on the news, with Expedia up over 12%, Booking Holdings up about 8%, and Tripadvisor up 5%, according to Reuters.
- The reporting said OpenAI found users research products in ChatGPT but do not typically finish transactions there.
- Bernstein’s Richard Clarke called the development incrementally positive for OTAs, while TD Cowen termed it a stunning admission that pushes back the idea of AI platforms replacing apps as a new operating system.
- Analysts highlighted the burdens of handling payments, cancellations, refunds, customer service and liability, pointed to Google’s shuttered Book on Google as precedent, and noted that OpenAI did not comment to Reuters.