Artificial Intelligence… Where could and should AI be adopted in our industry?
Artificial intelligence is rapidly moving from the laboratory and into business and consumer applications. The result is a fundamental shift in how software is built, and what it's capable of doing. And while we're still a way off from the artificial general intelligence portrayed in the movies, artificial narrow intelligence is a reality that's already powering some of the most successful technology businesses today, including Amazon, Facebook, Google and Apple.
So… Which areas of the hospitality industry are and will be most suited to implement AI and why? What's your take?
CIO MEA and Global Accor Strategic Programs
Revenue management systems (RMS) were once amongst the hottest technologies in our industry. Unfortunately, we have not made much progress beyond hurdle rates, last room availability and length of stay powered by basic algorithms that haven't changed much. AI is offering a great opportunity to make those platforms quicker and better. When we combine CRM and RMS systems we have the ability to personalize offers and to yield on individuals instead of room inventory alone.
If we add attribute based selling to the mix and also yield on room attributes (a balcony or a double bed for example), a simple algorithm will not suffice anymore.
Instead, we will need agile processes that can adjust based on many changing factors instantly; the perfect job for an AI engine!
And a great opportunity for RMS systems to become a 'hot' technology once again.