Travel companies that have invested more in technology and AI are now showing faster recovery and even surpassing pre-crisis levels.
Technological innovation and application is what sets companies in the travel and e-commerce industry apart in the years to come. Those that accelerate the pace of technology adoption will be better able to meet the rapidly changing needs of customers, especially for choice and personalization, which are the two main requirements of the modern consumer. The tourism industry has been able to respond since the start of Covid-19 by innovating and redoubling its efforts to deal with health restrictions which are constantly changing and forcing the sector to be more and more agile in supporting travellers.
Artificial intelligence: an essential role in the tourism sector during the crisis
The adoption of digital tools has accelerated during the crisis and the same is true of the use of certain technologies which have enabled industry players to support travelers in their efforts. The time for recovery has now come and we must support and best respond to the growing demand from travellers. By observing the consumption habits of travelers and drawing trends to help tourist offices and policy makers adapt their tourism strategy, the use of artificial intelligence has made it possible to anticipate and respond to demand and needs. travellers.
Artificial intelligence at the service of a tailor-made travel experience
Customer preference studies consistently show that choice and personalization are key. Our studies suggest that travelers today are 47% more likely to seek out a much wider range of flight options than they would have before the pandemic.
AI allows us to understand individual customer preferences based on their engagement with a platform, and then sort the data based on the options that best match those interests. Just as we know choice is key, the flip side is customers’ absolute insistence on personalized experiences. Indeed, the use of machine learning algorithms makes it possible to personalize the results and thus to offer a unique experience adapted to everyone with personalized travel suggestions and offers. In a few seconds an artificial intelligence is able to offer travelers the best combinations. Since the objective is not to compromise on the user experience, it is then necessary to combine an offer of significant choice to the traveler while ensuring that it is communicated to customers in a meaningful way. Artificial intelligence allows companies to translate these large, complex datasets into something simple and accessible for travelers.
Artificial intelligence in the tourism of tomorrow
It is now undeniable that artificial intelligence is an opportunity for the tourism sector. Tomorrow, the tourism industry 4.0 will have to continue to adapt to emerging trends to continue to support the exponential growth of travellers. Machine learning helps travel companies understand what customers like and dislike, and gives them more relevant choices in seconds. This is why AI capabilities will be a determining factor in the ability of travel companies to capture maximum market share in the future. The benefits of artificial intelligence in the tourism sector are manifold. We can also highlight the incredible benefits of AI in terms of operational efficiency, saving time, money and hassle for customers and reducing business losses due to inadequate and outdated processes. In this area alone, a recent McKinsey study highlighted that the global travel industry could gain more than $400 billion a year in efficiency through the adoption of AI. It can have a big impact on a number of other areas of business, including performance marketing optimization, product creation, and fraud prevention.
The application of AI is no longer a fantasy. Successful companies have already been adopting it for a few years as a solution in multiple operations, and it is inevitable that AI solutions will be as mainstream in the near future as email. For companies in the travel industry, their ability to meet customer demands for choice and personalized travel experiences will be determined by how ambitious they are in evolving their machine learning capabilities.
The sustainability of the entire travel industry depends on companies recognizing and seizing the opportunity of AI and placing it at the center of their customer experience and service strategies.