Have you ever wondered what is unique to humans? It is our brain processes! The way we learn, react and think. What if, this distinctive feature fades away by sharing it with machines? This is what has happened since the onset of artificial intelligence.
It has been a hot topic of discussions for everyone who stays updated with technology. It is the most popular technology in enterprise applications and we can say that AI’s chief revenue comes from this sector.
In a study by Statista, it was estimated that the AI market revenue will rise from $3221.8 million in 2016 to $89847.26 million in 2025. This vast growth is evident to the increasing popularity and applications of AI in different sectors.
A graphical representation of this study is given below:
Artificial intelligence is extremely close to the automation solutions that have been provided in the contemporary world to almost every industry. It involves manufacturing machines that can think intelligently like humans.
To know more about How Artificial Intelligence(AI) Can Be Used In Front-End Development?
AI has changed global society even with its minutest contributions that cannot be easily noticeable by a layperson. Have you ever wondered how traveling has become easier for people in the past few years? Gone are those days when we had to visit a travel agent’s office physically.
The travel industry has seen remarkable changes in its processes because of artificial intelligence. It has made several processes of this industry tremendously fast and convenient.
“After years of hype, hospitality and travel companies are now delivering real added value for consumers by integrating artificial intelligence into online search and booking platforms,’ said by Greg Oates from Skift team, which is a travel and tourism news providing agency.
Undoubtedly, AI has pumped up the travel industry with its support. It was estimated by the research of Deloitte that the size of the global travel and tourism industry is $1.6 trillion in 2017. This industry contributes 10.4% to the world’s GDP.
Here is a picture from the Deloitte’s 2018 travel and hospitality industry outlook. It is also depicting a graphical representation of Global International Departures.
There is no doubt that Artificial Intelligence or Machine Learning Development is revolutionalizing the whole travel and tourism industry. Here are some of the top factors on which there are impacts of AI on the Travel and tourism industry:
Lots of custom software development companies are using these in their day-to-day projects. Let’s have a detailed understanding of these factors:
1. Hotel Bookings
In the competitive market of the tourism industry, there are hundreds of accommodation options available in every city. Statista, in its research, showed the number of hotels owned by top five hotel groups worldwide as of December 2016.
Apart from these, there are uncountable smaller groups as well. It is hard for a customer to opt for the best option among them. Have you heard about the sites like HiJiffy? They are virtual assistants that help people to choose an optimum hotel.
There are several assistant websites like this, that guide the users to make sure they get the best prices according to their needs and budget.
Have you ever talked on a website to their customer support? This computerized texting as a customer support service is called chatbots. According to a report by Gartner, it is estimated that by 2025, 85% of customers will be talking to enterprises without a human.
The chatbots have been an active part of the travel software development industry as well. Hotels or other enterprises have their chatbots on social media or instant messaging applications to assist their customers 24*7.
The main reason behind the success of chatbots in this industry is the requirement of fast and accurate replies. This would have been impossible with the help of the human staff. In the fast-moving digital world, chatbot app development has come as a rescue for enterprises.
3. Room Service
Have you ever experienced the AI room service? The voice assistants and chatbots have entered the hotel rooms to deliver an over-the-top level of room service to the clients. Big names have their specific assistant with special names which can be memorized by all.
Edwardian hotel, for example, has a unique voice assistant, named as “Edward”.
Sometimes, hotel rooms have some minutes of promotional videos according to the client’s needs. AI is making this industry more connected to its customer base.
This not only provides a unique feature to the hotel but also leave a memorable impact on the minds of their clients. Psychologically, talking to an artificial flirty voice is not something which can be compared with a human professional service voice.
4. Data Analysis
If you are perceiving that artificial intelligence is only supporting customer service then you are wrong. It is also assisting at the other end with data processing and analysis. Like in every other industry, a chief job of AI here is related to gathering customer information also.
It interprets their information, needs and preferences to present enterprises with the data on the basis of which they can strategize their policies. Feedbacks in this industry holds much more important than any other industry.
Artificial intelligence allows taking instant feedbacks and reviews from customers. It helps the service providers to decide their pricing and improving their delivery.
5. Cashless payment option
Artificial intelligence allows the clients to pay online according to their preferences in no times. The voice assistants or chatbot services help with these transactions amazingly.
Electronic bracelets are also introduced by some of the big names in the hotel industry like Melia Hotels. Such wearables are a part of AI that assists the guests to pay to the hotel with just a few touches. Sometimes, they are also connected with nearby fashion stores or restaurants.
The ability of machine learning services & solutions such as AI to perform the complex tasks that earlier required human cognitive ability is marvelous. From customer support to assistance for business enterprises, AI is serving all ends of the travel and tourism industry.
The statistics and presence of AI technologies at every step of a process in this industry shows its brilliance. The impact of Artificial Intelligence on the Travel and Tourism Industry is clearly evident to every traveler and business person. If you are into the travel business, you should contact the technology consulting company for precise information about AI in your industry.