What's Going On With Ride-Hailing Company Lyft's Stocks Today?

Lyft Inc. (NASDAQ:LYFT) shares are trading higher on Friday.

The company has formed a strategic alliance with Anthropic, an AI firm recognized for its human-centered approach.

This partnership aims to enhance the rideshare experience for Lyft’s vast customer base, which includes more than 40 million riders and 1 million drivers.

The two companies will work together to create AI-powered solutions that prioritize customer needs and improve the interactions between riders and drivers.

Lyft has incorporated Anthropic’s AI model, Claude, into its customer service operations and the integration has notably enhanced response efficiency, cutting the average resolution time by 87%.

"Lyft is using Claude to both reimagine the future of ridesharing, and at the same time deliver tangible benefits to their community today," said Vice President of Product Management at Anthropic, Michael Gerstenhaber.

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"This approach, combined with their deep collaboration with our team of experts, creates a blueprint for how companies can successfully bring AI into their business."

The AI assistant now manages thousands of support requests daily, directing customers to human agents when needed.

The partnership involves three key areas of focus. First, Lyft and Anthropic will work together to create and implement AI-driven solutions designed to improve the rideshare experience for both drivers and passengers.

Second, Lyft will gain exclusive access to Anthropic's latest research and advancements, allowing the company to integrate the most advanced AI technologies into its services.

Lastly, the collaboration includes training for Lyft's engineering team, helping the company stay ahead of technological trends.

"Software engineering has undergone a seismic shift with the introduction of GenAI technologies. Gone are the days when humans were predominantly writing code," said Executive Vice President, Platforms at Lyft Jason Vogrinec.

Price Action: LYFT shares are trading higher by 2.7% at $13.79 at last check Thursday.

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