Travel & Tourism sector must act now to leverage the impact of AI: WTTC, ET TravelWorld


<p>Picture used for representation</p>
Picture used for representation

Recent reports from the World Travel & Tourism Council (WTTC) and Microsoft highlight the transformative power of AI (Artificial Intelligence) for travel and tourism, marking a commitment to a digital future with unparalleled customer experiences.

WTTC believes AI can play a pivotal role in delivering a tailored and enhanced experience now and in the future. As the global leader in Travel & Tourism, WTTC acknowledges the crucial importance of AI in revolutionising the sector.

Despite the increasing examples of AI applications in Travel & Tourism, the report reveals the sector lags other consumer-facing industries in AI adoption. AI’s surge across various sector’s last year is now a relevant force, and the Travel & Tourism sector must act now to leverage its impact, said the report.

Challenges that must be overcome by Travel & Tourism businesses include a shortage of AI-skilled workers, limited AI infrastructure, and the absence of a formal ‘AI strategy’ in many business plans.

Travel & Tourism businesses are urged to embrace AI as a strategic priority, investing heavily in talent to foster collaboration between humans and AI.

Amidst concerns about AI’s impact on jobs, the report addresses the potential for job creation, recognising that although AI will be disruptive, it will in turn generate new opportunities.

The AI technology, according to WTTC, can empower personalised recommendations and marketing strategies by analysing traveller data, optimising pricing strategies through real-time adjustments, and offering instant responses and fine-tuned interactions via sophisticated AI powered chatbots.

The report also highlights AI’s capabilities extend to predicting future demand patterns, efficiently allocating resources, and providing valuable insights for governments and Travel & Tourism stakeholders.

This contribution can be pivotal in promoting sustainability with efficient resource management by monitoring and minimising environmental impacts, ensuring a more responsible and sustainable sector.

“As we navigate the ever-evolving landscape of Travel & Tourism, AI emerges as a catalyst for positive change,” said Julia Simpson, WTTC President & CEO.

“The transformative capabilities highlighted in this report demonstrate that AI is not just a technological advancement, it is a strategic tool that can personalise the customer experience, drive sustainable improvements, and create real time pricing models.”

Maha Tourism launches Tourism Policy App for women entrepreneurs, WhatsApp Chatbot

Maharashtra’s tourism sector offers significant revenue and job opportunities, with over 5 million jobs generated. To maximise tourist footfall and spending, the state tourism department is focusing on rebranding hidden gems, promoting local festivals, and streamlining policies. Going forward, through targeted initiatives and promotional campaigns, Maharashtra Tourism aims to attract entrepreneurs and investors to explore the state’s untapped opportunities.

“Using Microsoft’s Azure OpenAI Models across the travel sector allows greater productivity for companies and drive a more personalised consumer experience. For travellers, the ability to drive more inspiration and personalized offers at booking to providing tools to consumers to proactively assist them while in destination to anticipate their needs with relevant information to improve their journey. For travel companies, GenAI is there to increase productivity, automate the predictable, and allow our human centric approach to the high value moments in travel to shine more,” stated Julie Shainock, Microsoft Managing Director Travel, Transport & Logistics. In the quest for sustainable AI practices within the Travel & Tourism sector, responsible data management emerges as a crucial strategy, the report mentioned.

Implementing measures such as data minimisation, efficient storage, and responsible data disposal, becomes pivotal for organisations seeking to minimise their carbon emissions when using new digital technologies, and reduce their AI environmental footprint significantly.

The report further explores AI applications in society and business, emphasising the need for safe and responsible AI system design in Travel & Tourism, signifying a milestone in the sector’s commitment to innovation and sustainability.

  • Published On Feb 10, 2024 at 11:25 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETTravelWorld App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link