Yelp (YELP) Goldman Sachs Communacopia + Technology Conference 2026 summary

Key product and technology developments

• Transitioned from go-to-market to product-led, and now to an AI-driven era, modernizing offerings and launching AI-powered tools like Yelp Assistant and Yelp Host.

• Yelp Host integrates with restaurant systems, handles calls in 17+ languages, and processes food orders commission-free, enhancing operational efficiency.

• Acquired Hatch to accelerate digital lead management, merging voice AI efforts and expanding into broader services.

• Yelp Assistant provides a chat interface leveraging Yelp's data, with ongoing enhancements to stay competitive in the fast-evolving AI space.

• Focus on greenfield AI opportunities and partnerships, including integrations with OpenAI, Meta, Apple, Bing, and Alexa.

Competitive landscape and data asset value

• Yelp's unique local data is positioned as a critical resource for answering local queries, comparable to Reddit or Wikipedia.

• Strategic partnerships bring Yelp content to platforms like ChatGPT, driving both licensing revenue and user traffic.

• Content distribution extends to automotive, voice assistants, and other major tech platforms, reinforcing brand relevance.

AI investment and ROI measurement

• AI is applied across products, engineering, sales, and G&A, with ROI measured by avoided costs, productivity gains, and new revenue streams.

• Rapid product development cycles enable faster prototyping and market entry, with clear ROI in products like Yelp Host.

• Open source and proprietary AI models are evaluated for cost-effectiveness and quality, with ongoing experimentation.