From chatbots enriching the digital customer interaction, to intelligent personalisation for increased online booking conversion and robots that check you in at your hotel – the field of applied Artificial Intelligence and Machine Learning (AI & ML) is as diverse as the players involved in the travel industry value chain.
The increased application of AI & ML will bring about new customer-focused systems that will make travel retail and travelling much simpler and more comfortable. And that’s exactly what travellers and online travel retailers are looking for. So, let’s get a clear view of AI & ML and take a look at the opportunities for online travel retailers.
Andy Owen Jones, co-founder and CEO at bd4travel, explored this potential when speaking at the fvw Travel Tech Day in 2017. He focused on what benefits AI & ML can bring now and in the years to come. Lean back and watch the video below to gain an insight … or simply continue reading.
What is AI & ML and what opportunities do they offer? Firstly, AI makes selling travel more personal and efficient by implementing automated but personal services that anticipate the needs of the customers. Secondly, AI is about simplifying processes for a more seamless booking procedure, avoiding redundant actions and improving the customer experience in the drive for complete satisfaction. Furthermore, AI can perform the time-consuming repetitive tasks that ensue from the many routines involved.
The common ground for progress is data: data to feed recommendation engines, data for intelligent booking assistance and data for your customer support & loyalty programmes. Applied AI & ML will improve the capabilities to analyse such data and facilitate drawing the right conclusions in real-time. This includes insights on what product suits what customer, what should be sold now and what price-level might be the most appropriate. Or as Andy concludes in his speech: “A machine-learning algorithm is better than you or me in analysing data and discovering valuable information. Not more – not less.”
The key to your success with AI & ML is making sure you get the ball rolling. Start by using one data set and add other data as you go. Remember: The hard work – analysing data and discovering valuable information – can be taken care of by machines.
At bd4travel, we live and breathe new paradigms such as AI & ML, taking them and delivering them as practical solutions to achieve intelligent personalisation for travel. Together with a strong partner it can be very easy to take a data-driven AI approach.
Get in touch with us to find out how AI & ML can transform your travel business.
At the fvw Travel Tech Day in Cologne, Andy Owen Jones, co-founder and CEO at bd4travel, explored the potential of AI and Machine Learning on the online travel market.