Digital technologies are creating value and rearranging roles in the travel industry. Here's how industry leaders are profiting from the change. Over the past 20 years, advances in digital technologies have driven numerous innovations and disruptions in the travel industry. These technologies and the companies that offer them have rearranged the industry, leaving some players behind--travel agents, for example--while introducing more complexity into the value chain between travelers and destinations. More recently, mobile technologies have taken center stage as consumer behavior shifts with astonishing speed toward researching and booking travel through smartphones.
Personalized recommendations powered by artificial intelligence and machine learning technologies can improve the experience of business travelers at every stage of their travel journey. These features are especially advantageous in the hotel space, which is plagued by non-compliant bookings. Irrelevant content and outdated tools have often frustrated business travelers booking lodging for their trips, leading travelers to book outside company policy. Despite the technologies available, it's rare for corporate travel tools to present business travelers with relevant hotel choices. Additionally, today's business travelers are quick to use the tools that suit their individual needs, as their expectations are increasingly influenced by platforms they use in their personal lives.
Travel & tourism is on its rise nowadays. This may be explained by the fact that it has become more affordable to a broader audience. But, in today's fast-paced world, finding time to travel to a ticket office and get your tickets is a luxury few can afford. Like any other industry, machine learning, AI and big data analytics have changed the travel & hospitality industry as well. In this post, we will discuss the major applications and future scopes of machine learning, AI & big data analytics in the travel & hospitality industry – across the globe and India. Additionally, we will also have a look at how machine learning, AI and big data analytics are reshaping the hospitality job market. Due to rapid digital transformation, over 500 billion dollars ($564.87 billion) was made in the travel & hospitality sector in the year 2016 alone. The number is expected to reach $817.54 billion by 2020.
Instead it is about a thoroughly progressive, completely 360 degree view of the traveller and everything that goes into creating special, unique, memorable experiences." Did you get your tickets directly from the ticket office? In today's fast-paced world, finding time to travel to a ticket office and get your tickets is a luxury few can afford. Besides, why bother if you can get your tickets in just a couple of clicks via your laptop or even your smartphone? Indeed, digital travel sales grew rapidly over the last several years, totaling $564.87 billion in 2016. And the number is expected to reach $817.54 billion by 2020. Such explosive growth is fueled by recent technology advances, not the least of which is data science. We at AltexSoft are no strangers to successfully applying data science and machine learning technologies to the field of custom travel software development.