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Yelp Unveils a Series of New AI-powered Features to Enhance Discovery and Connection with Local Businesses

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Yelp (NYSE: YELP) announced its end-of-year product release featuring over 20 new updates focused on enhancing user and business owner experiences. The key developments include:

AI-powered features such as Review Insights that analyze reviewer sentiment, a personalized home feed with expanded content types, and enhanced Yelp Assistant for connecting with service professionals. The Review Insights tool provides sentiment scores from 1-100 for various business aspects.

New features include tipping attributes for transparency in payment policies, integration with Apple Maps for quote requests, and AI-powered tools for business owners including smart selection for ad optimization and competitive insights for comparing performance with up to three competitors.

Yelp (NYSE: YELP) ha annunciato il rilascio dei suoi prodotti di fine anno, presentando oltre 20 nuovi aggiornamenti focalizzati sul miglioramento dell'esperienza per gli utenti e i proprietari di imprese. Le principali novità includono:

Funzionalità potenziate dall'IA, come Review Insights che analizza il sentiment dei recensori, un feed personalizzato con contenuti diversificati e un Yelp Assistant migliorato per connettersi con professionisti dei servizi. Lo strumento Review Insights fornisce punteggi di sentiment da 1 a 100 per vari aspetti aziendali.

Tra le nuove funzionalità ci sono attributi di mancia per garantire trasparenza nelle politiche di pagamento, integrazione con Apple Maps per le richieste di preventivo e strumenti potenziati dall'IA per i proprietari di imprese, tra cui una selezione intelligente per l'ottimizzazione degli annunci e approfondimenti competitivi per confrontare le performance con un massimo di tre concorrenti.

Yelp (NYSE: YELP) anunció su lanzamiento de productos de fin de año, presentando más de 20 nuevas actualizaciones centradas en mejorar las experiencias de los usuarios y propietarios de negocios. Los desarrollos clave incluyen:

Funciones impulsadas por IA como Review Insights, que analizan el sentimiento de los revisores, un feed de inicio personalizado con tipos de contenido ampliados y un Yelp Assistant mejorado para conectarse con profesionales de servicios. La herramienta Review Insights proporciona puntuaciones de sentimiento de 1 a 100 para varios aspectos comerciales.

Las nuevas funciones incluyen Atributos de propina para mayor transparencia en las políticas de pago, integración con Apple Maps para solicitudes de cotización y herramientas impulsadas por IA para los propietarios de negocios, incluyendo una selección inteligente para la optimización de anuncios y análisis competitivos para comparar el rendimiento con hasta tres competidores.

옐프 (NYSE: YELP)는 사용자와 사업주 경험을 향상시키기 위한 20개 이상의 신규 업데이트를 포함하는 연말 제품 출시를 발표했습니다. 주요 개발 사항은 다음과 같습니다:

AI 기반 기능으로, 리뷰어의 감정을 분석하는 Review Insights, 다양한 콘텐츠 유형으로 확장된 개인화된 홈 피드, 서비스 전문가와 연결할 수 있는 향상된 Yelp Assistant가 있습니다. Review Insights 도구는 여러 비즈니스 측면에 대한 감정 점수를 1-100으로 제공합니다.

새로운 기능에는 팁 속성이 포함되어 결제 정책의 투명성을 제공하며, 견적 요청을 위한 Apple Maps와의 통합, 광고 최적화를 위한 스마트 선택 및 최대 3명의 경쟁사와 성능을 비교하는 경쟁 분석을 포함한 사업주를 위한 AI 기반 도구가 있습니다.

Yelp (NYSE: YELP) a annoncé le lancement de ses produits de fin d'année, avec plus de 20 nouvelles mises à jour axées sur l'amélioration de l'expérience utilisateur et des propriétaires d'entreprise. Les développements clés incluent :

Fonctionnalités alimentées par l'IA, telles que Review Insights qui analyse le sentiment des évaluateurs, un fil d'accueil personnalisé avec des types de contenu élargis et un Yelp Assistant amélioré pour se connecter avec des professionnels de services. L'outil Review Insights fournit des scores de sentiment de 1 à 100 pour différents aspects commerciaux.

Les nouvelles fonctionnalités comprennent des attributs de pourboire pour la transparence des politiques de paiement, une intégration avec Apple Maps pour les demandes de devis, et des outils alimentés par l'IA pour les propriétaires d'entreprise, y compris une sélection intelligente pour l'optimisation des annonces et des analyses concurrentielles pour comparer les performances avec jusqu'à trois concurrents.

Yelp (NYSE: YELP) hat die Produkteinführungen zum Jahresende angekündigt, die über 20 neue Updates beinhalten, die auf die Verbesserung der Erfahrungen von Nutzern und Geschäftsinhabern abzielen. Zu den wichtigsten Entwicklungen gehören:

KI-gestützte Funktionen, wie Review Insights, die das Nutzerfeedback analysieren, ein personalisierter Feed mit erweiterten Inhaltstypen sowie ein verbesserter Yelp Assistant zur Verbindung mit Serviceprofis. Das Review Insights-Tool bietet Stimmungsbewertungen von 1 bis 100 für verschiedene Aspekte von Unternehmen.

Neue Funktionen umfassen Trinkgeldattribute für Transparenz in den Zahlungsrichtlinien, die Integration mit Apple Maps für Angebotsanfragen und KI-gestützte Tools für Geschäftsinhaber, einschließlich intelligenter Auswahl zur Optimierung von Anzeigen und Wettbewerbsanalysen, um die Leistung mit bis zu drei Mitbewerbern zu vergleichen.

Positive
  • Introduction of AI-powered features to enhance user experience and business operations
  • Integration with Apple Maps expanding service reach
  • Launch of smart selection tool for optimizing ad performance
  • Implementation of competitive insights tool for business performance comparison
Negative
  • None.

Insights

The rollout of 20+ AI-powered features marks a significant strategic shift for Yelp, positioning it to compete more effectively in the local business discovery space. The Review Insights feature, leveraging large language models, transforms raw review data into actionable intelligence - a critical differentiator in the crowded local search market. The integration with Apple Maps for "Request a Quote" significantly expands Yelp's reach and monetization potential. Most notably, the smart selection feature for advertisers could drive higher ROI, potentially increasing ad spending and boosting Yelp's revenue. This comprehensive AI implementation across consumer and business features demonstrates a well-thought-out strategy to enhance engagement and monetization simultaneously.

This product release addresses key competitive challenges in the local business discovery market. The personalized home feed and AI-driven features directly counter similar offerings from Google Business Profile and Meta's local business tools. The new tipping attributes respond to growing consumer demand for transparency in service charges. The enhanced business owner tools, particularly the competitive insights and flexible ad budgets, could improve merchant retention - a important metric for Yelp's business model. These features could help Yelp capture a larger share of the $19 billion local advertising market while improving user engagement metrics. The integration with Apple Maps also provides a significant distribution advantage over smaller competitors.

AI-powered Review Insights and new tipping attributes help consumers learn more about local businesses before they go; enhancements to Yelp Assistant and Yelp’s Request a Quote in Apple Maps make it even easier to connect with pros and complete projects; AI-enabled smart selection automatically optimize ads for business owners for the highest return on ad spend

SAN FRANCISCO--(BUSINESS WIRE)-- Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, today announced its end-of-year product release featuring more than 20 new updates designed to enhance the user experience for both consumers and business owners. Yelp’s latest product release includes AI-driven features, such as Review Insights that surface reviewer sentiment for common topics, a personalized home feed with even more user content, and enhancements to Yelp Assistant, the AI chatbot that connects consumers with service pros. Yelp also announced AI-powered improvements to the business owner experience with features like job summaries that help manage their inbox and a smart selection tool that automatically optimizes ad performance.

Yelp’s end-of-year product release introduces 20+ new updates, including AI-powered discovery and connection features for users and ad optimization for business owners. (Graphic: Business Wire)

Yelp’s end-of-year product release introduces 20+ new updates, including AI-powered discovery and connection features for users and ad optimization for business owners. (Graphic: Business Wire)

“This year has been marked by an accelerated pace of product innovation at Yelp,” said Craig Saldanha, chief product officer at Yelp. “By using AI to harness Yelp’s vast amount of trusted user-generated content, in 2024 we’ve rolled out more than 80 new features that enhance the consumer and business owner experience. Our end-of-year product release highlights how Yelp is simplifying the way users discover and connect with local businesses with new AI-powered features like Review Insights that provide a shortcut to the information consumers care about most. We’re looking forward to continuing this momentum into the new year, with even more updates for consumers and business owners to come.”

AI-enhanced local business discovery

Yelp introduced new and improved ways to discover, learn about, and connect with local businesses with new features across the home feed and business pages on Yelp.

  • AI-powered Review Insights: New Review Insights use large language models to analyze and summarize reviewer sentiment on various aspects of a business, such as food quality, service, and ambiance. Insights are displayed above a business’s reviews as aggregated sentiment scores for each topic—positive, neutral, and critical—ranging from 1 to 100. Users can also explore related reviews for each topic. Review Insights are available on iOS for restaurant, food, and nightlife businesses.
  • Personalized home feed: New updates to Yelp’s home feed on iOS help consumers better discover new and relevant businesses. The home feed now features new content types, such as user videos, reviews, trending searches, hot & new businesses, and more. In the coming weeks, Yelp will roll out an AI-powered update that better tailors a user’s home feed to their preferences.
  • More Recognitions in more places: Consumers can now find a user’s Recognitions alongside their reviews on business pages, helping users identify when reviews are written by passionate contributors in business categories they’re interested in. Recognitions have also expanded to include 220 additional home services, beauty, and active life categories and are available on iOS and desktop with Android coming early next year.
  • Tipping business attributes: To provide transparency around tipping, Yelp introduced eight new business attributes that inform users about an establishment’s tipping and payment policies. New attributes include whether the business has a “no tipping” policy, if tipping is optional, if gratuity is automatically applied to the bill, and more.

Streamlined hiring experience for consumers and service pros

Leveraging AI, Yelp enhanced the services experience to simplify connections between consumers and service pros.

  • Enhanced Yelp Assistant refines pro communication with project editing and broadcasting: Yelp Assistant, an AI chatbot that connects you with pros, now supports text and call requests from service pros on iOS, while masking the consumer’s phone number for their privacy. Users can also find Yelp Assistant through new conversational prompts on search results pages on iOS in addition to the Projects tab across all platforms. Additionally, new project editing and broadcasting makes it easy to edit and automatically relay revised project details to multiple services pros at once for the most accurate quotes.
  • Request a Quote integration on Apple Maps: Yelp’s Request a Quote is now integrated with Apple Maps, allowing users to request quotes from local professionals across home, local, auto, professional, and events categories. Consumers can find a new “Quote” button on Apple Maps business pages, which directs them to Request a Quote for that business in the Yelp iOS app.
  • AI-enhanced business owner inbox: In the coming weeks, service professionals will have an enhanced inbox that will help them manage leads more efficiently with redesigned job cards that feature AI-powered summaries, highlighting crucial job information for easy evaluation.

Simplified ad setup and optimization for business owners

Continuing its commitment to helping business owners grow and succeed, Yelp introduced new features to better streamline ad setup and strengthen ad performance.

  • Smart selection: The new AI-powered smart selection helps Yelp advertisers automatically test the best reviews and photos to showcase, optimizing their ads for the highest return on ad spend. This free feature is available to all Yelp advertisers.
  • New competitive insights and enhanced support: A new competitor measurement tool on the Yelp for Business homepage allows business owners to compare their Yelp page performance with up to three competitors of their choice, helping better inform their growth strategies. Additionally, Yelp’s ​​new ad budget options allow seasonal advertisers to temporarily reduce their ad spend with automatic restarts whenever it’s most convenient to them.

Additional Information and Assets

For more details on all of the latest updates from Yelp’s end-of-year product release, visit the company’s blog post. Assets and images are available here. For further information about Yelp, visit the company’s Fast Facts page.

About Yelp Inc.

Yelp Inc. (yelp.com) is a community-driven platform that connects people with great local businesses. Millions of people rely on Yelp for useful and trusted local business information, reviews and photos to help inform their spending decisions. As a one-stop local platform, Yelp helps consumers easily discover, connect and transact with businesses across a broad range of categories by making it easy to request a quote for a service, book a table at a restaurant and more. Yelp was founded in San Francisco in 2004.

Forward-Looking Statements

This press release contains forward-looking statements relating to, among other things, Yelp’s future product plans, including the ability of its investments and initiatives to drive profitable long-term growth and shareholder value, that are based on its current expectations, forecasts and assumptions that involve risks and uncertainties.

Factors that could cause or contribute to such differences also include, but are not limited to, those factors that could affect Yelp’s business, operating results and stock price included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Yelp’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q at yelp-ir.com or the SEC’s website at sec.gov.

 

Press Contact

Yelp Inc.

Julianne Rowe

press@yelp.com

Source: Yelp Inc.

FAQ

What new AI features did Yelp (YELP) announce in their end-of-year product release?

Yelp announced Review Insights for sentiment analysis, personalized home feed, enhanced Yelp Assistant for service connections, and smart selection for ad optimization.

How does Yelp's (YELP) new Review Insights feature work?

Review Insights uses large language models to analyze reviewer sentiment, providing scores from 1-100 for aspects like food quality, service, and ambiance, available on iOS for restaurant, food, and nightlife businesses.

What is Yelp's (YELP) new integration with Apple Maps?

Yelp's Request a Quote feature is now integrated with Apple Maps, allowing users to request quotes from local professionals directly through business pages on Apple Maps.

What new advertising features did Yelp (YELP) introduce for business owners?

Yelp introduced AI-powered smart selection for automatic testing of reviews and photos in ads, new competitive insights tools, and flexible ad budget options for seasonal advertisers.

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