In this recent webinar, FLYR Labs and Pace Revenue joined Skift to explain how travel companies can put artificial intellegence at the core of their business and technology ecosystems to keep up with customer demand, improve operational efficiencies, and drive more revenue in an increasingly volatile and unpredictable travel business.
A recent Skift webinar, How Artificial Intelligence Is Reshaping the Travel Business, discussed how artificial intelligence (AI) and machine learning models are emerging as a means to keep up with customer demand, improve operational efficiencies, and drive more revenue in an increasingly volatile and unpredictable travel business.
In this webinar:
- AI is a trillion-dollar opportunity in travel. Travel stands to benefit from AI-powered analytics more than any other sector, and most of the applications for this technology affect customer-facing channels.
- The catalyst for innovation. AI will enable travel companies to optimize revenue across their entire commercial functions — from seats, ancillaries, and cargo for airlines, to hotel rooms, guest amenities, and destination tours for hotels.
- “Tried and true” approaches are failing to solve for today’s challenges. AI has advanced more quickly in the past six years than it had in the previous 40, and the acceleration continues. The travel industry has been struggling to respond quickly and accurately to continuously changing demand conditions, trying to project old solutions onto new problems. This is leaving hundreds of billions of dollars in trapped potential.
- Advancement requires an organization-wide effort. Moving the industry forward requires innovation across technology, commercial structures, and engagement models. The industry will continue to evolve, and the adoption of AI is critical to maximize revenue, improve commercial performance, and — arguably most importantly — improve the customer experience.
As travel brands aim to connect the traveler journey from end to end, they are seeking more seamless ways to incorporate and integrate data to support operations, revenue management, marketing, ancillary offers, and other commercial decisions across their organizations.
In this recent webinar, FLYR Labs and Pace Revenue joined Skift to explain how travel companies can put AI-driven insights at the core of their business and technology ecosystems. With the recent acquisition of Pace, a cutting-edge revenue and decision intelligence platform for hotels, FLYR is accelerating its ability to support new travel and transportation sectors beyond its core expertise in aviation.
The panel explored how AI is not limited to any travel vertical or specific commercial function; what to expect from a technical and tactical perspective as AI is still evolving; and how travel organizations can navigate these changes holistically in this ever-shifting environment.