Local commerce platform Wolt launches the third edition of its Algorithmic Transparency Report. The report aims to demystify the algorithms powering Wolt’s platform, detailing why they are used and how they function for consumers, courier partners and merchants.
In 2022, Wolt became a pioneer in the digital platform industry by launching the first-ever Algorithmic Transparency Report. WageIndicator has recognized Wolt’s commitment to transparency, highlighting the reports as one of the best practices in the industry.
This year’s report is divided into sections for consumers, merchants, and courier partners, making it easy for them to understand how algorithms shape their interactions with Wolt and improve their overall experiences. It also covers data and product security. An exciting and important addition this year is a chapter on generative AI and how it improves efficiency at Wolt.
Wolt believes publishing algorithmic transparency empowers customers and partners. It provides valuable insights and encourages trust, accountability, and informed decision-making. In turn, it also helps businesses and communities thrive. In a Wolt survey, Wolt asked courier partners how important algorithmic transparency is for them; over 90% responded that it was.
Vincent Ho-Tin-Noe, chief product officer, Wolt: “Wolt’s mission is to improve the cities we serve, and we believe being open and transparent about our technology can help us achieve this goal. Never has it been more important to share information in a clear and understandable way so that customers and partners can better understand their interactions with us, hold us accountable and improve their overall experiences on our platform.”
