Uber AI Is on the Way. What Could It Mean for the Stock?

3 min readMay 22, 2023

Key takeaways

Uber has filed a patent for an AI system to match drivers with riders
Uber has seen a 58% stock price increase since start of the year and is currently at $40
The stock price could go much higher if Uber can get ahead with AI developments, which looks promising with its Google partnership

As AI tech fervor catches on with companies looking to boost their user bases and profits, one of the companies that could benefit the most from the new tech is Uber. The tech company has recently made moves in the space, including a critical new partnership and some new patents to secure its position in an AI-dominated future. We’ve got the lowdown below.

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Uber dips its toes into AI

Uber already uses AI to improve the user experience, such as using machine learning to predict arrival and delivery times for its Uber Eats and ride-share services, so it’s well-placed to take advantage of the recent AI boom.

And taking advantage is exactly what it’s doing. Uber has allegedly filed a patent for a system that would use machine learning to match riders with potential drivers based on their profiles and previous rides. The system could help to reduce wait times and help drivers be more efficient with their waiting areas.

In February, Uber also announced that it partnered with Google for its cloud data and AI services. Uber would be migrating its critical infrastructure to the Google Cloud and utilizing the Google Maps and Ads platforms to improve the user and rider experience. It’s also said to be testing out a Google-powered AI chatbot for users.

What does it mean for the stock?

Uber’s stock has jumped 58% since the start of the year, the majority of that gain coming at the start of May when it shared that the tech company had beaten revenue and earnings expectations in Q1. The share price is currently $40.

Uber’s partnership with Google is also a promising sign. Google is one of the market leaders in AI at the moment, so with the pooled engineering resources between the two Big Tech companies, we could see a lot of progress — and investors could see a positive trajectory for Uber’s share price.

The bottom line

Honestly, this is a lot of chatter for a company that hasn’t updated its AI blog since 2019. But it does seem to have progressed its AI capabilities with new patents and partnerships, so we’re just as excited as investors will be to see how Uber can develop AI for its existing and new products.

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