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How brands are using artificial intelligence to enhance customer experience - Marketing Week

#artificialintelligence

Artificial intelligence has been around since 1956 and has made some giant leaps in that time: beating the best human at chess, the best human at US gameshow Jeopardy and recently beating the best human at complex strategy game Go. Brands have only recently started adopting artificial intelligence for core consumer services. Google's voice recognition technology now claims 98% accuracy and Facebook's DeepFace is said to recognise faces with a 97% success rate. IBM's Watson, which uses artificial intelligence to perform its question-answering function, is 2,400% "smarter" today than when it achieved the Jeopardy victory five years ago. There is no doubt that the relationship between men and machines is changing, and brands are on the cusp of making artificial intelligence an everyday element of their customer offerings.


Starwood taps machine learning to dynamically price hotel rooms

#artificialintelligence

Should Marriott International acquire Starwood Hotels & Resorts Worldwide as is widely expected, it will gain a company whose smartphone check-in, key-less entry and robot bellhops are progressive in the increasingly technology-focused hospitality sector. But Starwood's digital crown jewel is invisible to guests: Its analytics software platform enables the hotelier to automatically recalibrate pricing of its properties using hundreds of variables that influence supply and demand. Starwood spent more than 50 million over three years on this revenue optimization system, or ROS as the company calls it, which has helped the chain improve demand forecasting by 20 percent since 2015, says David Flueck, Starwood's vice president of global revenue. As ROS "learns" it will price rooms more efficiently, ideally boosting revenues and profitability. "What we're trying to do within our industry space is to say: How do we exploit access to data to create a more robust capability?" says Starwood CIO Martha Poulter.


Starwood taps machine learning to dynamically price hotel rooms

#artificialintelligence

Should Marriott International acquire Starwood Hotels & Resorts Worldwide as is widely expected, it will gain a company whose smartphone check-in, key-less entry and robot bellhops are progressive in the increasingly technology-focused hospitality sector. But Starwood's digital crown jewel is invisible to guests: Its analytics software platform enables the hotelier to automatically recalibrate pricing of its properties using hundreds of variables that influence supply and demand. Starwood spent more than 50 million over three years on this revenue optimization system, or ROS as the company calls it, which has helped the chain improve demand forecasting by 20 percent since 2015, says David Flueck, Starwood's vice president of global revenue. As ROS "learns" it will price rooms more efficiently, ideally boosting revenues and profitability. "What we're trying to do within our industry space is to say: How do we exploit access to data to create a more robust capability?" says Starwood CIO Martha Poulter.