AI making paradigm shift in travel industry priorities

Published on : Wednesday, March 14, 2018

globe internationalIn a paradigm shift in the travel and tourism industry Artificial intelligence is bringing in a sea change that is benefiting both travellers as well as tour operators, aviation sector and even the hospitality sector.

 
AI is proving to be a powerful tool for right from identifying patterns in booking behaviours to highlighting the decision-making process for specific demographics to keeping track of luggage, artificial intelligence is proving to be a powerful tool for the travel industry.

 
“With customers’ permission, travel portals can scan their social media activity, building a specific model of their interests, likes, social graphs and information from past travels, purchase behaviours and loyalty programs. They then use this collected data to identify patterns from a wider consumer community and match users with relevant offers. After scanning for the best deals and interpreting other digital behaviours, such as how the person booked in the past, the offer is placed in optimal positioning for conversion,” said Kapil Goswamy, CMD, BigBreaks.com.

 
Travel industry is undergoing a rapid and dramatic technological change, poised to revolutionize the way people travel. By collecting massive stores of historical data, events tracking and predictive analytics built from modern machine learning algorithms, travel companies can now effectively predict where and when travellers might want to go, generating custom advertisements automatically and boosting conversions all the way down the sales funnel.

 
Artificial intelligence makes it possible for travel companies to form highly-customized offers based on buyers’ needs and preferences. Past behaviours can be analyzed using sophisticated software to predict future buying actions. Deep rooted algorithms can help travel companies make the most out of their target audience’s online activities. They are now able to understand images, videos and sounds, creating opportunities to better understand travel patterns. Knowing that a person generally takes a vacation in August and has liked pictures from Singapore on Instagram would present a valuable insight for any travel portal or airline. Moreover, artificial intelligence can also introduce tailored suggestions during an ongoing trip based on the traveller’s profile, location and various other dynamic parameters.

 
What is noteworthy is that the output of all these technical processes helps in bringing a more natural experience to the consumer. When consumers interact with the travel company, artificial intelligence helps in offering a smoother experience. Advanced technology in travel is also helping companies in decision making, managing predictive maintenance and handling disruptions like weather conditions.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 WTM London 2018
  • 03 imexamerica 2018
  • 03 ITB Asia 2018
  • 09 ttfotm 2018
  • 10 Astana leisure 2018
  • 11 lodgingconference 18
  • 11 ttgincontri 2018
  • 12 plannersxtraordinaire 2018
  • 13 aite 2018
  • 13 bitf 2018
  • 14 Global Wellness Summit 2018
  • 14 SATTE 2019
  • 14 traveltechme 2018
  • 18 hospitalityqatar 18
  • 18 Hotel Management Asia Summit 2018
  • 19 bricsaconsulting 2018
  • 20 CITE_TTW 2018
  • 20 sahicsouthamerica 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com