- AI as a catalyst for operational efficiency
The travel and tourism ecosystem is heading towards a future where technology will play a major role. Especially artificial intelligence.
40% of companies in this sector highlight that one of the main reasons for integrating AI into their operations is to improve customer insights, relationships and experiences – one of the main conclusions of the industry analysis contained in the report. Ascendant Report by Minsite (Indra) The report, entitled “AI: The X-ray of a revolution in progress”, analyses the degree of AI adoption in private and public companies. The impact of technology in the tourism industry is significant, with 80% of companies already using AI in certain areas of their daily work.
In the words of Emilio Mora, Global Head of Hospitality, Aviation and International Industries at Minsight, said: “Artificial intelligence is positioned to be a key catalyst driving operational excellence, innovation and continuous improvement in the travel & tourism industry over the coming years. Companies that can effectively embrace and integrate this transformation with their strategic vision will be well placed to lead in a dynamic and competitive environment.”
According to a report by Ascendant, the area in the travel and tourism industry where artificial intelligence is being experimented with the most is travel reservations and sales management. 33% of companies are developing specific use cases such as hyper-personalized recommendation systems.
Other specific use cases include 33% of organizations using it to manage logistics or hospitality operations, or for tourism promotion. Next, 22% are using it to improve customer experience and services at destinations, manage vehicles and routes, and manage inventory. Additionally, other use cases the travel industry is focusing on include incident management and aircraft loading and unloading control.
AI optimization not only improves business efficiency and productivity, One of the main motivations, implemented by 67% of companies, is to enable the travel industry to significantly improve the quality and personalization of customer experience, which will lead to higher conversion rates and loyalty, a strategic aspect that could make the difference in the coming years.
In addition, It is worth noting that in all travel and tourism related businesses, AI can analyze, draw conclusions, identify patterns or develop actions. However, there are currently several barriers that hinder the adoption of this technology, including the availability of highly skilled talent and a lack of governance and security mechanisms.
AI as a catalyst for operational efficiency
This tool will have a major impact on the tourism value chainCore activities such as identifying emerging trends, managing reservations and activities, and marketing have been transformed by the implementation of predictive analytics, recommendation systems and automated processes, segmentation algorithms, and chatbots that can personalize interactions.
The Ascendant report also highlights the role of artificial intelligence in implementing responsible practices in the hospitality industry. Sustainability challenges can be addressed through specific ESG use cases, such as the implementation of smart environmental management systems in hotels.
The fifth edition of Mincite's “Ascendant Digital Maturity 2024 Report” addresses the status and extent of adoption of artificial intelligence by companies and public administrations. For this purpose, information provided by more than 900 organizations in 15 different sectors of activity, both in Spain and other countries, was analyzed.
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