BKNG can mitigate AI agent disruption by developing its own vertical AI agent; expected to remain resilient.

and then another potential competitor to Muse, a much smaller competitor and one of the internet's old original aggregators of e-commerce, Booking Holdings. That is the holding company for Booking.com, Priceline, and others.

The more interesting thing happening here, companies like Booking Holdings, which has fallen again. This is a risk for them as it was in recent years when they were battling platforms like Google doing their own aggregation work, Google Flights, allowing users directly within Google Search or the Google ecosystem to be able to aggregate prices on travel and accommodations.

It's basically happening all over again for Booking, but this time with AI agents. They have responded in the past by creating their own connected ecosystem and travel planning super app, and I have no doubt Booking will do it again with its own vertical AI agent.

There's going to be plenty of room for Booking to promote its own AI agent and create a travel concierge of sorts. Log into your booking account and tell it to research and plan an itinerary, give me a few options, and come back the next morning with the results.

I imagine that actually will work really, really well.

Per usual, there will be a lot of chatter about this being disruptive to companies like Booking and maybe Airbnb but really, we're talking about gradual moves here among very, very large businesses. I think Booking is going to be just fine.