It is now accepted wisdom that artificial intelligence (AI) can deliver dramatic gains for an organization's bottom line. Gartner's 2022 CEO Survey ranked AI as the "most impactful new technology" for the third year in a row. Analysis from the McKinsey Global Institute reports that the incremental value opportunity afforded by AI is greatest in the travel industry compared to all other major global business sectors.
Almost every business across travel - including hotels, airlines, casinos, cruises, car rentals and more - is leveraging AI or machine learning (ML) to a degree for dynamic pricing, chatbots, finance process automation or other use cases. However, very few travel companies have reaped the returns seen in tech-heavy industries or suggested by research and surveys.
In the first installment of the AI in Travel, Hospitality & Leisure series, A&M Managing Director Philip Rothaus discusses four actions travel companies can do now to prepare their organizations for AI.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.