Impact of Artificial Intelligence in the Hospitality Industry
Advent of ICT is giving a boost to the hospitality sector at the present time. In terms of hotel discovery, access to information & ease of booking – the entire hotel booking experience has become much more convenient & accessible. With the latest technologies evolving, operations in the hospitality Industry have not only made business easier to run, it also provides services in a varied manner, whenever the benefiter in the world is just a single click. Smart hoteliers are continuously in the process of adopting integrated hospitality management solutions which can deploy predictive analytics to price the hospitality products & services as well as to promote a wide range of services across multiple channels. With the prior knowledge of guest, their demographic data, purchase behaviour, interest etc. hotels can effectively & efficiently price & promote their services across multiple customer segments through automated & data-driven enterprise solution. A key benefit of using digital technologies is that they produce a tremendous amount of data for travel companies. Numerous brands are integrating data driven tools & advanced analytics into their enterprise solutions to derive contextual insights through their interactions with both existing & potential customers. These tools can play a major role in helping brands deliver a satisfying experience to the customers, for activities that include booking hotel rooms or leisure services.
Customers create data on multiple touch points through historical online searches, past bookings of hotels & flights, reviews, referrals etc. Greater the numbers of touch point, more detailed are the insights. When the volume of data comes from so many platforms, brands can find it intimidating to make sense of all this information & apply it productively. Thus, integrating data science & analytics can offer a brand huge dividend to the hospitality Industry. Through this paper, the researcher has tried to find about the influence of technological advancements, like use of Artificial Intelligence (AI), Machine learning (ML), and Internet of things (IOT) in the Hospitality Industry & the need to catch up with the changing technology to create customer delight.
Now a day’s Travel and Hospitality Industry are adopting modern technology along with a high degree of Machine Learning (ML) and Artificial Intelligence (AI). Actually AI provides travel brands with the perfect opportunity to enhance marketing, customer service, customer experience and increase retention.