Angi Inc. (NASDAQ:ANGI) Q4 2022 Earnings Call Transcript

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Christopher Halpin: Sure. So, starting with AI, every new technology is a threat and an opportunity and we certainly think about them in both ways. I think on the Dotdash Meredith side, one of the things we’re really happy with is the €“ in the context of generative AI and Chat GPT is that we did the combination with Meredith. And the reason I say that is because brands really matter, trust really matters, voice really matters. You can ask the bot questions and it’s amazing at answering those questions, but it doesn’t have a voice, it doesn’t have experience, and it doesn’t have a brand that stands behind those results. In fact, it sort of goes out of its way to not stand behind those results. And I think that’s really important in areas like , which we’re doing in a literal sense with food, but also in travel and home and things like that.

But creating new and creating new content around that is really important to have a brand and have a voice, which is what we have at Dotdash Meredith. There’s a big difference if you want to draw the line between commodity content and differentiated content. And I think that commodity content, which I’ll call, kind of fact based content has been threatened or significantly removed, but from the search engines for a long-time. It exists on the search engines and SEO, but generally they hold on to that traffic now. So, something like greater than 50% of traffic doesn’t read Google anymore. And that’s in those fact based questions where Google can provide the answer or the chatbot can provide the answer. We’ve been dealing with that, preparing for that, and are kind of past that as it relates to the search engines.

The format of that may change on the search engine itself, but we’re not counting on that, kind of traffic and haven’t relied on that, kind of traffic from the search engines for a long-time. And you could argue in that context, again that brand is even more important, voice is even more important. And that’s why we have to lean into our differentiated content and our differentiated brands. We’re sending people to go hotel, sit in the hot tub, check out the view. And that’s really important. We had people , cooking the recipe, tasting the results, seeing what happens when the pan gets too hot or too cold or whatever it is and putting our brand behind that and I do think that’s really important in a differentiated world. There are opportunities there, which I mentioned that I do think on the cost side and some of the earlier stages of content development, this can help drive efficiency.

I think that’s true at both Dotdash Meredith and even at places like Angi where what these bots have helped do is allow individuals to be better at creating content. So, take a service professional, for example, instead of having to hire an agency to build a profile and to have the right pictures and imagery and prose, you can use the cap off to help with that or we can enable the cap off to help certain professionals to do that to build out their directory profile. And I think things like that are really valuable uses of the content. Again, like with anything the technology will evolve and will evolve with it, but we have it €“ it is certainly front and center in our mind and we view real opportunities for innovation there. On your question, Ross, already €“ oh, no, okay.

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