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Market Research Report

Artificial Intelligence (AI) in Travel and Tourism, 2020 Update - Thematic Research

Published by GlobalData Product code 969157
Published Content info 82 Pages
Delivery time: 1-2 business days
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Artificial Intelligence (AI) in Travel and Tourism, 2020 Update - Thematic Research
Published: October 26, 2020 Content info: 82 Pages
Description

Artificial intelligence (AI) is everywhere and it has an impact on all our lives. Over the next few years, AI will be essential to the survival of companies across all sectors. Within travel and tourism there is steady adoption of AI-based solutions recognizable across the whole supply chain. From digital-assistants, to human-less check-in and facial recognition, AI is facilitating smarter and more efficient customer engagement. Beyond servicing the customer, AI can also be utilized for better and more informed contingency management, helping companies make effective decisions.

This thematic research report takes an in-depth look at the role of AI within the travel and tourism sector. The report looks at trends within tourism that are related to AI offering an array of case studies offering a deep dive into how company are utilizing this theme and the outcome. This is followed by an analysis on the impacts of AI, then offering recommendations for companies that are looking to utilize this technology.

The tourism sector is a service based field as ultimately, the end goal for all companies, stakeholders and suppliers is to provide a satisfactory experience. The use cases of AI demonstrate the multitude of ways that AI has helped industries across travel and tourism generally improve the traveler experience. The term 'personalization' has long been circulating the travel sector as companies, operators and tourism boards aim to offer the ultimate experience for individuals. Any technology that can help achieve this goal will prove beneficial and heighten the guest experience and AI can be considered critical in reaching this goal

Key Highlights

  • From digital-assistants, to human-less check-in and facial recognition, AI is facilitating smarter and more efficient customer engagement. Beyond servicing the customer, AI can also be utilized for better and more informed contingency management, helping companies make effective decisions.
  • Simply investing in chatbots and virtual assistants that can service demand in a timely manner is an effective step to integrating AI but does not make the most of the opportunity that AI can bring to an organization.
  • Sustainability is now a critical pillar in corporate strategies as companies decipher how they will tackle climate change. AI has revolutionized the way businesses can efficiently manage resources, vastly contributing to creating a more sustainable business model.
  • 77% of respondents in GlobalData's emerging technology travel trends survey 2020, declared that they were prepared for a 'digital disruption'. AI is identified as one of the major technologies that has multiple use cases where it will benefit the end-user, company profitability and overall efficiency.
  • Trusting experts seems to be the path to take as the majority of travel and tourism providers commonly partner with a technology company when utilizing AI. GlobalData's emerging technology travel trends survey in 2019 found that the most common strategy for developing emerging technologies was through partnering with a technology provider (54%).

Scope

  • This thematic report provides an overview of how AI is driving change across the travel and tourism sector today.
  • The key trends within this theme reflect how different companies are benefitting from AI driven solutions and the opportunities it can provide.
  • Several case studies are included looking across the travel and tourism supply chain to identify when, where and who major players have partnered with to incorporate AI into their organization.
  • The impacts of AI are then discussed to identify how this pivotal theme has changed and will continue to change the travel sector today.
  • A series of recommendations are then laid out to inform companies on areas that should be considered when adopting this critical theme.

Reasons to Buy

  • Understand what AI is and how this has and will continue to affect the travel and tourism sector in the future.
  • Access how businesses are utilizing AI to improve customer engagement, drive operational efficiency and how this can aid in contingency management.
  • GlobalData's thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
  • There are notable examples of how companies across the travel and tourism supply chain are utilizing AI to drive changes within the travel space and therefore all (airlines, intermediaries, lodging providers, cruise operators, airports, etc). should buy this report to fully understand how AI is a key theme for future development.
  • Understand the impacts of AI and how this will drive organizational change.
  • Discover recommendations that will help your company integrate AI-driven solutions contributing to a more efficient and adept business model.
Table of Contents
Product Code: GDTT-TR-S038

Table of Contents

Table of Contents

Executive summary

  • Players
  • Technology briefing
  • Trends
  • Trends within Travel and Tourism
  • Technology trends
  • Macroeconomic trends
  • Regulatory trends
  • Industry analysis
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Timeline
  • Case studies within Travel and Tourism
  • Impact of AI on Travel and Tourism
  • Value chain
  • Machine learning
  • Data science
  • Conversational platforms
  • Computer vision
  • AI chips
  • Smart robots
  • Context-aware computing
  • Companies
  • Companies within travel and tourism
  • Public companies
  • Private companies
  • Sector scorecards
  • Application software sector scorecard
  • Semiconductor sector scorecard
  • Glossary
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