The WTTC (World Travel & Tourism Council) has urged companies in the travel and tourism sector to adopt the benefits of Artificial Intelligence (AI) responsibly. This technology is expected to play a crucial role in providing an improved travel experience to each traveler through personalized recommendations.
The report, "Introduction to Artificial Intelligence (AI) Technology: A Guide for Travel & Tourism Leaders," is the first part of a comprehensive report on AI released by the agency in collaboration with Microsoft. It highlights how AI technology is set to revolutionize the standards of travel and tourism.
Besides enhancing the travel experience, AI applications can also power personalized recommendations and marketing strategies. This is achieved by analyzing traveler data, optimizing pricing strategies through real-time adjustments, and delivering instant responses and tailored interactions through sophisticated marketing strategies. AI-powered chatbots can help in this regard.
The report further emphasizes that AI's capabilities extend to predicting future demand patterns, allocating resources efficiently, and providing valuable information to governments and stakeholders in the travel and tourism sector.
Positive Change
The report highlights that AI applications are not just a technological advancement but a strategic tool that can be used to personalize the customer experience, drive sustainable improvements, and create real-time pricing models. AI can be leveraged across the travel industry to boost business productivity and provide a more personalized consumer experience.
However, despite the growing number of AI applications in the travel and tourism sector, the report reveals that the industry is lagging behind other consumer-facing industries in adopting this technology.
The use of AI applications has significantly increased across various sectors in the past year. This has made AI a relevant force, and the travel industry must now act to harness its impact.
However, travel and tourism companies face several challenges in implementing AI, including a shortage of skilled AI workers, limited infrastructure, and the absence of a formal "AI strategy" in many business plans.
The WTTC urges travel and tourism companies to prioritize AI as a strategic initiative and invest heavily in talent to foster collaboration between humans and AI.
New Opportunities with AI
The report also addresses concerns about AI's impact on employment and acknowledges its potential for job creation. While AI will be disruptive, it will also generate new opportunities. The report emphasizes the importance of responsible data management in the travel and tourism sector to ensure sustainable AI practices.
Organizations should adopt measures such as data minimization, efficient storage, and responsible data disposal to reduce the carbon emissions associated with using new digital technologies. This will help significantly decrease the environmental footprint caused by AI applications.