New 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.
The first in a series of reports on AI, announced during the world tourism body’s Fitur 2024 event and in collaboration with WTTC industry partner Microsoft, is set to redefine Travel & Tourism standards and call on the industry for greater integration of such technologies.
In that regard, WTTC is committed to driving innovation and supporting the industry to embrace AI and other cutting-edge technologies. To promote sustainability and excellent customer experiences and recognizes the crucial importance of AI in revolutionizing the industry.
Throughout the traveler’s journey, WTTC believes that AI can play a critical role in delivering a personalized and enhanced experience now and in the future.
Such technology can empower personalized recommendations and marketing strategies by analyzing traveler data, optimizing pricing strategies through real-time adjustments, and offering instant responses and fine-tuned interactions through sophisticated AI-powered chatbots.
The report also highlights that AI capabilities extend to predicting future demand patterns, efficiently allocating resources, and providing valuable insights for governments and stakeholders in the travel and tourism sector.
This contribution can be instrumental in promoting sustainability with efficient resource management by monitoring and minimizing environmental impact, ensuring a more responsible and sustainable industry.
Despite growing examples of AI applications in Travel & Tourism, the report reveals that the sector lags behind other consumer-facing industries in AI adoption. The rise of AI in several sectors last year is now a relevant force, and the Travel & Tourism sector must act now to leverage its impact.
Challenges for Travel & Tourism companies to overcome include a shortage of skilled AI workers, limited AI infrastructure, and the absence of a formal “AI strategy” in many business plans.
Travel & Tourism companies are urged to embrace AI as a strategic priority, investing heavily in talent to foster collaboration between humans and AI.
Amid concerns about the impact of AI on employment, the report addresses the potential for job creation, recognizing that while AI will be disruptive, it will in turn generate new opportunities.
In the quest for sustainable AI practices in the travel and tourism sector, responsible data management emerges as a crucial strategy.
Implementing measures such as data minimization, efficient storage and responsible data disposal is critical for organizations looking to minimize their carbon emissions when using new digital technologies and significantly reduce their AI environmental footprint.
The report explores the applications of AI in society and business, emphasizing the need for safe and responsible AI system design in the travel and tourism sector, marking a milestone in the industry’s commitment to innovation and sustainability, and showcasing AI’s potential to shape a bright future for travel and tourism.