Artificial intelligence (AI) is much more than what we have seen in movies and television. This sophisticated technology has been used by a variety of industries for decades (often reluctantly). Find out how the travel industry has adapted to the widespread popularity of AI and what it could mean for the future of travel. What is artificial intelligence? Artificial intelligence is a programmatic system designed to analyze and interpret specific types of inputs (in the form of raw data) and provide outputs that resemble intelligent, or at least reasonable, conclusions. AI is sometimes mentioned along with big data or machine learning—both of which are similar concepts. Software that uses artificial intelligence performs complex tasks that previously required human intervention, but at a much faster rate. How does AI relate to travel?Artificial intelligence was once seen as a threat to the travel industry, but in recent years, the industry has begun to embrace this technology. Instead of fighting against technology that once threated to take travel agents’ jobs, industry insiders are recognizing how AI can positively impact their interactions with customers. One of the best uses of artificial intelligence in the travel industry has to do with its ability to predict travel-related occurrences, such as security threats and weather incidents. GeoSure CEO Michael Becker—who is responsible for developing an AI app—asserts that artificial intelligence has the capability to predict security threats in nearly every major city worldwide. He believes this technology will ultimately help travelers feel safer, which will therefore increase travel industry revenue. In addition to predicting security and other threats, artificial intelligence is also used for narrowing down the best travel deals, identifying optimal times to plan a trip, optimizing itineraries, and providing detailed information about popular travel destinations. Who benefits most from AI?Artificial intelligence is somewhat impractical for analyzing patterns of the average traveler (as it is best for identifying more frequent occurrences), but for those who travel a lot, AI could prove to be very valuable. For instance, business travelers typically travel more often than leisure vacationers, and they usually repeat the same set of activities. Additionally, business travelers are less restricted by travel prices, since their presence in a specific destination is not flexible. This means that if a businessperson needs to be in Tokyo next week, there is no time to wait for a price drop. Artificial intelligence can also help to create a high-quality experience, and surveys have consistently shown that is what business travelers value most. What are the challenges?According to critics, artificial intelligence currently poses a threat to travel agents. However, these threats can be minimized if travel companies use AI to their advantage by, for example, identifying customer patterns in order to provide better customer service. Major companies such as Expedia, Google, and Apple have already begun to develop AI systems to better understand customer behavior. These companies understand how detrimental it would be to ignore AI, and they are forging ahead in development to avoid a major industry disruption.
While many in the travel industry can see the inherent value in artificial intelligence technology, it still hasn’t been totally embraced. Travel agents in particular have been burned by the technology in the past (they have not fully recovered from the way the Internet revolutionized booking travel, essentially allowing consumers to cut them out of the process). According to Trisept Solutions CEO John Ische, travel agents need to prepare for change by working hard to communicate with their customer base in order to gain a deeper understanding of what customers want and value, which will inevitably leader to higher sales in the long run. As long as leisure travelers dominate the travel industry, artificial intelligence will still have its limitations. With this in mind, the use of AI on a large scale is still impractical because the data simply isn’t there. Even with the slow progress of AI, many companies in the travel industry are incorporating AI into their operations. Industry Forecast predicts that 2017 will usher in more use of artificial intelligence, particularly in the form of apps, software, and bots that will augment travel agent functions. As it stands now, AI is still new and its full potential has yet to be tapped. It will be interesting to see how far AI can expand beyond simply analyzing the data of business travelers and deliver more personalized experiences for all consumers. Comments are closed.
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AuthorBruce Eaton is the president and chief executive officer of i2 Pharmaceuticals, Inc., a hit discovery and lead optimization technology provider serving clients in the pharmaceutical industry. Categories
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