What return on investment can hoteliers expect from artificial intelligence?
Cost and complexity can deter hoteliers from adopting artificial intelligence. But when a solid ROI can be established, there are several ways that AI-powered solutions can increase hotel profitability.
Artificial intelligence (AI) is an umbrella term which refers to a variety of intelligent programs. Every time we run a search on Google, AI is working behind the scenes. Word and sentence predictions on Gmail or Whatsapp are powered by AI and every advert, notification and recommendation that we receive on social media is the result of AI.
Artificial intelligence (AI) is an umbrella term which refers to a variety of intelligent programs. Every time we run a search on Google, AI is working behind the scenes. Word and sentence predictions on Gmail or Whatsapp are powered by AI and every advert, notification and recommendation that we receive on social media is the result of AI.
Tristan Gadsby, CEO and co-founder, Alliants, commented: “AI is everywhere in our daily lives but it’s still common for people to have misconceptions about it. AI is not a hyper-specialised branch of computer science, nor is it anything particularly new. This is the technology that beat world chess champion Garry Kasparov back in 1996. It’s the technology that allows you to do online translations. There are plenty of ways AI can enhance the guest experience and streamline and simplify hotel operations, but the crucial first step is for owners and operators to identify where the use of technology can drive business value.”
The hotel industry has been using AI via revenue management systems and demand forecasting for decades, but this article will explore other areas of hotel operations where AI is used. To do this, we shall follow the guest journey, from research and booking to post-visit communications.