Airline industry disruptor brings first-of-its-kind generative AI pricing technology to Royal Air Maroc following its achievements at the RAM Digital Open Innovation program
TEL AVIV, ISRAEL / ACCESSWIRE / September 28, 2023 / Fetcherr, the startup that developed the first generative AI pricing, inventory and publishing engine, today announces its partnership with Royal Air Maroc (RAM), the national carrier of Morocco, to implement its Generative Pricing Engine (GPE) - a first-of-its-kind fully automated AI pricing technology. This partnership comes as Fetcherr is awarded first place in the revenue management category in the second edition of the RAM Digital Open Innovation Program.
The RAM Digital Open Innovation Program involves collaboration with the global ecosystem of startups to co-build a new generation of groundbreaking products and services. Three hundred startups applied for consideration across 12 defined categories, and 10 startups were selected for a week in Fez, Morocco to participate in the challenge and pitch the onboarding process and ROI to a panel of judges that included the airline's top executives. The winning solutions were awarded the opportunity to sign commercial contracts with RAM. Fetcherr's recognition as the top innovator in the revenue management category, and its partnership and implementation with the airline, are testaments to the company's cutting-edge GPE technology and its positive disruption of the airline industry.
"We believe that generative AI technology is the future of the airline industry, and we are honored to be recognized by Royal Air Maroc for our unique pricing and inventory management solution," said Roy Cohen, CEO and Co-Founder at Fetcherr. "We are excited to partner with RAM and committed to empowering meaningful advancements in the airline's revenue and operational infrastructure as we revolutionize the industry together."
Fetcherr's GPE is the industry's first market dynamics generative AI model that generates the best market moves to increase or decrease prices, based on the predicted actions of all market variables. The technology enables uniquely granular high-frequency pricing, inventory management, and publishing capabilities in one complete system that fully automates processes - from pricing to publishing - to optimize operations, save manpower by publishing fares in real-time, and support revenue generation.
"Collaborating with Fetcherr and implementing their innovative Generative Pricing Engine (GPE) marks a significant milestone in our revenue management innovation strategy," says the Royal Air Maroc team responsible for this project. "This partnership demonstrates our commitment to continuous improvement in our operations, revenue optimization, and overall passenger experience enhancement. We are confident that Fetcherr's AI technology, capable of delivering granular high-frequency pricing solutions, will play a pivotal role in achieving these goals."
RAM - the largest airline of Morocco - today joins Fetcherr's global network of airline partners, which includes Brazil-based Azul Airlines and London-based Virgin Atlantic. The expansion of Fetcherr's partnerships within the airline industry demonstrates the company's rapid growth and innovation as it makes strides towards new markets, including the retail and financial sectors.
About Fetcherr
Fetcherr is an Israeli Algo Trading-based startup that developed a proprietary AI-powered pricing system, using proven reinforcement AI models to increase airline revenue by enabling High-Frequency Pricing. Founded in 2019 by experts in deep learning, Algo-trading, e-commerce and digitization of legacy architecture, Fetcherr aims to disrupt traditional, rule-based (legacy) revenue systems through deep learning methodologies, beginning with the airline industry. For more information, please visit www.fetcherr.io.
About Royal Air Maroc
Royal Air Maroc (RAM) is the national carrier of Morocco and a leading African airline connecting the continent to the rest of the world. With a rich history dating back to 1957, RAM has grown to become a leader in the aviation industry, serving as a vital bridge between Africa and global destinations. As the leader in African aviation, RAM is dedicated to providing passengers with world-class travel experiences while contributing to the development and connectivity of the African continent. The airline's extensive network and commitment to excellence make it a preferred choice for travelers seeking seamless connections between Africa and the rest of the world.
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SOURCE: Fetcherr