IBS Group has launched a vertical AI company purpose-built for the global travel industry, with cruise named as a key sector

The company, called Naviq Technology, has started operations effective immediately, with 16 offices across the globe already established and an initial hiring wave of nearly 2,000.

Over the next five years, it plans to grow headcount to more than 5,000, attracting top AI researchers, data scientists and subject matter specialists thanks to $500 million of investment.

The team plans to partner with leading cruise lines, airlines, airports and hospitality groups to use AI-first innovations to modernise operations, improve efficiency, personalise end-user experiences and unlock new revenue streams.

Naviq will operate independently from its affiliate companies within IBS Group, but will leverage the travel technology expertise of IBS Software and serve as the preferred implementation partner for its clients, which include Royal Caribbean International, MSC Cruises, Celestyal Cruises, Fred. Olsen Cruise Lines, Ponant, Hurtigruten and The Ritz-Carlton Yacht Collection.

Naviq has not yet said which of them, if any, it will work with, but it has published case studies of work with the TUI Group and an unnamed cruise line, described as one of the world’s largest private operators, where rebuilt data and search architecture cut business-critical response times by 90 per cent.

V. K. Mathews, founder and executive chairman of IBS Group, said: “The global travel industry is at a turning point, with organisations seeking smarter ways to operate and future-proof their businesses.

“Naviq gives the market something it has not had before: a technology and consulting company that understands the complexities of global travel, anticipates industry challenges, and offers transformative solutions at scale using specialised AI tools.”