Artificial Intelligence… Where could and should AI be adopted in our industry?
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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?
The keyword here is personalization. When applying AI to the interaction between hospitality brands and travelers, we can arrive at Predictive Personalization: understanding user behavior to predict how to best serve him so that we increase both user satisfaction and hotel revenue. By focusing on a narrow, industry-specific use of machine learning, it's possible to create predictive algorithms and offer completely new, powerful targeting options like buying intent or user value, and even attempt to find the holy grail of e-commerce: personalized price.