With the emergence of big data, machine learning and artificial intelligence, travel companies are witnessing a radical change across the globe. It has enabled the emergence of newer business models, a string of successful startups, and higher visibility for existing players through micro-targeted campaigns. To meet the growing demands of the modern consumer, travel companies have embraced new technologies that have the potential to generate a greater return on investment for the firms. With the new changes, travelers have only been willing to adopt them to make their travel easier and enjoyable. Reports revealed that 80% travelers would prefer to self-book their trip online than rely on offline processes.
The latest technology has given rise to a flurry of shared economy companies such as Airbnb and Uber, online travel agents, chatbots for customer support and supported many other business models. In today’s data driven world, clients can make hotel reservations through app-based platforms and apply for visas online. One such example is where online travel agents process Malaysia visa for Indians simply by filling in a form that takes less than a minute. With an increasing number of travelers relying on technology to take care of a wide spectrum of their travel needs, here are some key areas where innovative technology and artificial intelligence can impact the travel industry:
- Personalized interactions powered by chatbots:
Be it the myriad options to compare travel packages, budgets, or make bookings online, there’s ample research that needs to be done by the traveler. This requires spending time sifting through terms and conditions, travel guides and reviews before narrowing down on one option. With AI comes a quicker alternative. The traveler can use an interactive app that will factor in their requirements and provide a finite set of options.
The benefits are plenty and the scope for scaling it is infinite. Chatbots can help non-native travelers navigate through a foreign land effortlessly. If there arises weather conditions that require travelers to be constantly updated, travel companies can use assistance from AI to handle queries efficiently. This can remove large pain points for travelers.
- Facial recognition technology:
Travelers are scrutinized for travel documents and oftentimes deal with complex and lengthy paper-based processes. This can be replaced with facial recognition technology, which will enable a seamless process for migration and airport check-in and check-out. If data and blockchain are used, it makes the process much simpler for travelers, only demanding a simple facial scan to process transactions.
- Machine Learning:
Machine learning enables firms to track data and gauge the client’s needs based on patterns and trends. Travel companies can leverage this information to provide customized services to travelers and extend recommendations that are tailored to the client’s requirements.
- Social media:
With the surge in social media analytics tools, travel companies can avail their features to track feedback on services or products across social media channels. This will help the companies better understand what clicks and what has failed. It will also help them track if a customer is unhappy with the service and reach out to the client real-time to fix the issue.
With the deluge of options available in today’s market, artificial intelligence and other advanced technology stand to revolutionize the travel industry. They enable greater efficiency and reduces the heavy consumption of time.